Managed comms services provider Olive Communications has continued its consolidation efforts in the Vodafone channel, picking up Wish Holdings, the parent company of rival Wish Communications, for an undisclosed sum.
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One of a handful of Vodafone Platinum Partners in the UK, Olive manages around 65,000 subscribers at 2,500 customers. Its purchase of Wish is the ninth acquisition it has made since 2011, and means that base has now grown to over 110,000 subscribers at 6,000 customers. Combined annual turnover is estimated, by Olive, to be £25m.
As part of the deal Wish MD Mike Hallam now becomes Olive’s COO, reporting to Olive CEO Martin Flick, while operations director Simon Pickering takes up the role of group professional services director at the enlarged entity.
Flick spoke of a “powerful alignment of Vodafone Platinum Partners” that would “deliver benefits beyond the sum of its parts”.
"By combining the two businesses we create huge benefit for our customers, suppliers and staff. Our Group now has an even broader range of services to offer including mobility solutions, IPVPN and hosted voice, PBX maintenance, WAN and cloud based services, all of which can be delivered as integrated solutions and managed in house by our expert teams,” he said.
Olive chairman Mark Geraghty added: "Olive is now even better placed to tick all the boxes for business users working for UK based organisations that need remote and flexible working conditions for their staff, which are provided by our collaboration tools and expertise in mobile working."
Hallam said: "This is an exciting opportunity for our team. Having built our business steadily since 2006 we feel proud of what we have achieved. The skills we have developed have proven to be highly valuable and much sought after.
“Olive has a very exciting portfolio, fantastic corporate customers and a highly experienced management team, which Simon and I are delighted to join. The career opportunities and increased development potential for staff is enormous, and the business plan for the future is very compelling."
Rob Mukherjee, head of Vodafone Partner Services added said the deal demonstrated Olive’s commitment to the firm’s long-term strategy.