Gamma completes acquisition of controlling stake in VozTelecom, a leading provider of IP telephony services in Spain

Gamma Communications plc (“Gamma”), a leading technology-based provider of communications services to the business markets in the UK and the Netherlands, is pleased to announce that it has completed the acquisition of a controlling stake in Spain-based Cloud PBX provider VozTelecom OIGAA360, S.A.

This is an important step in the execution of Gamma’s European expansion strategy, which identified Spain as one of its key target geographies.

VozTelecom is the largest Cloud PBX business in Spain aside from the major fixed line and mobile network operators. The company provides service to end users directly and through a network of wholesale partners, franchisees and dealers. Like Gamma, VozTelecom has an excellent reputation for delivery through a well-established partner channel.

Andrew Taylor, Chief Executive of Gamma, commented:

“I’m delighted to announce the acquisition of VozTelecom and to welcome the team to the Gamma group of companies. We believe that Gamma can bring its deep expertise and commercial strength to both support and help accelerate VozTelecom’s growth in the emerging Cloud PBX market in Spain.”

Xavi Casajoana, CEO of VozTelecom, said:

“Gamma brings tremendous technical and market expertise, and a track record in bringing cloud PBX solutions to market. With an overall market size of c. 18 million PBX seats and a cloud penetration of only c. 5%, the Spanish market for Cloud PBX is forecast to grow rapidly in the future and we look forward to accelerating our growth plans both organically and inorganically as part of Gamma.”

Q Advisors, a leading global TMT investment banking boutique, acted as the exclusive financial advisor to VozTelecom in connection with this transaction.

About VozTelecom

VozTelecom is a Spanish cloud communications service provider primarily focussed on the SME market. Since 2003 the company has been the leading SIP-Trunk and cloud PBX provider in the Spanish market, with strong growth achieving 15M€ revenues in 2019. The company became public in 2016 in the alternative stock market (MAB) and had been backed by several investment funds until the acquisition by Gamma. Headquartered in Barcelona, and with offices in Madrid, Sevilla and San Sebastián, VozTelecom offers fixed and mobile communications bundled with Internet access and cloud PBX across Spain.

Through a recent acquisition of ComyMedia company, VozTelecom has expanded its presence in the Basque region adding professional skills and a product portfolio of ICT services for the enterprise market. With close to 160 employees, the company provides end customer support from its teams in Spain and a fully owned subsidiary in Tétouan (Morocco). The company’s products have won several industry awards, notably the 2018 ‘Best Practices Award’ from Frost & Sullivan.

The VozTelecom business will continue to be run by its existing management team, led by CEO Xavi Casajoana. Xavi was one of the founders of VozTelecom in 2003 and was previously CEO of Tiscali in Spain.