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Redsquid outlines ambitious growth plans

Telco player Redsquid is looking to acquire IT specialists as it extends its reach and grows the size of the business significantly

Telco specialist Redsquid Communications has hired a fresh CEO, revealed plans to double the headcount of the business and take greater steps into the IT market.

The Vodafone partner recently appointed Andy Tow as CEO with a brief to take the helm at a time when the business is looking to expand significantly.

The firm is planning to knock through to the office next door in its Borehamwood base to double its floor space and has ambitions to take the staffing levels up from the current 40 to 100.

It has already seen its headcount swell fairly rapidly growing from just two staff in its inception in 2006.

Part of the growth plans could well include acquisitions of IT players that will add some muscle to the firm's service offerings.

Other telco resellers have made similar moves, with Excalibur one of the most well know examples, to widen their reach by acquiring IT dealers.

Excalibur has moved from being known largely as a Vodafone premier partner to more of a solutions business as the result of acquiring several IT resellers.

Tow started at the firm last month and comes with a background that involves senior roles at a number of IT and telco firms.

"Redsquid have described to me an exciting and challenging growth plan over the next few years, both organic and through acquisition of complementary businesses," he said.

"we are already in detailed discussions with several prospective additions to the business and are looking forward to reviewing even more opportunities in the future," he added.

Vince Mignacca, COO at Redsquid, said that it was going to be leaning on Tow's 16 years of experience as it took the next steps to expand and grow the business.

"By appointing a man with such deep knowledge of the industry and huge experience...Redsquid are demonstrating their commitment to the future growth and ambition of the company," he said.

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