Solar Communications has been bought out by Midlands-based communications firm, Wavenet.
Solar, which has offices in Salford Quays, Chippenham, Cardiff and Harlow employs around 100 people. Wavenet has a similar headcount across its bases in Solihull, Warrington and Norfolk. Both provide voice, data and cloud services to businesses.
Details of the deal haven’t been released, but Solar’s most recent filings showed that it turned over £12.1m in 2016, on a £6.1m gross profit. That compared to £13.4m in 2015 on £6.7m gross profit. However, since 2016, both Wavenet and Solar have adopted an acquisition strategy, with each buying 4 businesses.
“Following an intensive 30 months of growing our business into a successful and agile organisation, the time is right to take the next step and allow our customers to benefit from our significant joint capability and experience in the UC market. We are all very pleased that the Wavenet values and culture are extremely close to those already present within Solar which should make the integration of the businesses so much easier,” stated John Whitty, CEO of Solar Communications.
“The introduction of Wavenet’s award winning network, Cisco and extensive networking expertise into our base, will improve our converged solutions and their automated platform will bring benefits to delivering our services to our customers. I am looking forward to being part of the Wavenet team and further helping the Group to develop and deliver the cloud UC components.”
Whitty will remain with the company on the executive board, with a “key role leading the integration of the businesses.”
Together the group will service nearly 10,000 UK business customers.
“Solar is an extremely capable and exciting business with a very talented team. Its combination with Wavenet will provide added depth to the innovative and business enhancing services provided to both sets of customers,” added Bill Dawson CEO of Wavenet.
“Solar has been successful developing the platform, people and services required for growing the business both organically and by acquisition. This has accelerated its transition from being a leading telephone system reseller in the UK, into becoming a fully managed cloud service provider, able to provide superlative technology and a fully managed service.”