Coms plc (LSE:COMS.L), Media and Press Releases
Coms plc commences internet telephony sector consolidation with the acquisition of ExchangeXT
London, December 4, 2006: Coms plc, an internet telephony service provider, today acquired VoIP provider Exchange XT Limited to accelerate revenues, enhance the technology platform and strengthen its management team. This also marks the Companys first step of achieving its stated aim of consolidating the fragmented internet telephony sector.
ExchangeXT owns an Ericsson telecom switch and provides VoIP services through its Superline (www.superline.co.uk) and Call Union (www.callunion.com) brands directly to customers and indirectly through distributors such as the WiMax internet provider, So Broadband. The deal enables Coms.Com to offer combined telecom and VoIP services, as well as increase Coms.Com income and gross profit and will open new distribution opportunities with high street.
Ofcom states that only 3 per cent of UK consumers are taking daily advantage of low-cost VoIP calls. Coms.Com, in addition to being able to issue numbers in all UK area codes, will now be able to transfer customers existing telephone number to their service. Coms.Com believes that this will enable it to acquire more UK consumers, enter the SME market place and create innovative Web 2.0 communications services, having the overall effect of increasing the general usage of VoIP.
David Cargill, CTO of ExchangeXT, joins the Board of Coms.Com and assumes responsibility for defining and delivering the Company's VoIP product road map including; video, pay-per-call advertising and integrated WiFi/GSM alternative mobile phone services.
"The time to consolidate the internet telephony sector is now," says Richard Bennett, Corporate Development Officer at Coms.Com. "Voice is no longer a stand alone telecoms service, but an integrated feature of the internet that will monetise Web2.0 applications."
Jason Drummond, Executive Chairman, commented: "Bringing the two Companies together will provide us with a leap forward in our business plan. David Cargill has an excellent track record of developing VoIP services, and will implement our technology roadmap, bringing low-cost internet telephony services to a mainstream audience".
Notes to Editors
Coms.Com paid a consideration of £468,253 to acquire ExchangeXT and subsidiary companies. The 2005 audited accounts of ExchangeXT show a consolidated income of £911,593 and a gross profit of £406,092.
Coms.Com recently unveiled its online store, Coms Express, at www.comsexpress.com. The store offers all the basic equipment required to start using internet telephony to make cheap or free calls. Selecting the right VoIP hardware is the key to cost saving and maximising the benefits of VoIP.
About Coms.Com
Coms.Com was founded by Jason Drummond in 2000 with the vision of using the Internet to carry and deliver voice telephone calls. Unlike Skype, Coms.Com is based upon the industry standard SIP protocol which enables the widest possible connection of customers, devices and integrated Web 2.0 applications. Coms.Com subscribers can make high quality calls over the internet wherever a high-speed internet connection is available including in wireless hotspots. Coms.Com subscribers can also select their own free telephone number. Ofcom has allocated Coms.Com 2 million numbers in the top 178 UK geographic area codes by population which Coms.Com subscribers can choose from. In addition, Coms.Com can transfer a company's existing telephone number to their service.
Subscription is available in a range of packages from the company's website www.coms.com.
Coms.Com is an Ofcom authorised Public Electronic Communications Network (PECN) and a member of the Internet Telephony Service Providers Association (ITSPA).
Coms.Com is listed on the London Stock Exchange AIM market (LSE:COMS)
For more information, contact:
Georgina Firth/Gemma Craven
Midnight Communications
+44(0)1273 666200
george@midnight.co.uk / gemma@midnight.co.uk
Richard Bennett
Coms plc
+44 (0)7966 388 374
