Vodafone buys telecoms service firm

Mobile phone giant Vodafone tonight announced that it had bought a telecoms service provider which manages more than 27,000 customers.

Vodafone UK said it bought Generation Telecom – which was founded in 2001 - for an undisclosed sum.

Generation Telecom has been one of the fastest growing independent business-focused service providers in the UK, with nearly 85% of its customers connected to Vodafone.

The firm is a wholly-owned subsidiary within the Phones International Group, which was recently named as the UK’s 13th fastest growing company.

Nick Read, chief commercial officer at Vodafone UK, said: “Together with the recent acquisition of Project Telecom and Singlepoint, this transaction will further increase our direct market share in the corporate and business segments.”

Peter Jones, chairman and chief executive of Phones International Group, said: “We entered a very competitive market at a time when many businesses were consolidating and have managed to build one of the UK’s most successful business service providers.”