NEW CALL TELECOM ANNOUCES ACQUISITION OF GLOBAL WHOLESALE VOICE PROVIDER WAVECREST
New Call Telecom, the rapidly expanding international telecom company, today announces the acquisition of leading international wholesale voice business WaveCrest. The acquisition comes only weeks after New Call acquired Nimbuzz, a fast-growing Indian mobile technology brand with more than 200m users across the globe.
Founded in 2001 and headquartered in London, WaveCrest has offices in Dubai, New York, Milan, Paris and Frankfurt. The company provides high-quality, low-cost international calling solutions to retail brand owners, other operators and end users. With a state-of-the-art IP network, WaveCrest terminates in excess of 3bn voice minutes per year and generates revenues approaching $120m. Since 2010 WaveCrest has been providing a fully hosted Over the Top (OTT) international calling solution for Tesco and is working with other leading brands to deliver similar OTT solutions to their existing client bases.
London-based New Call Telecom was established by CEO Nigel Eastwood after a management buy-in of the business from its US parent company, PTGi. In 2013, the economist, entrepreneur, investor and leading expert on emerging markets, Dr Jerome Booth became Chairman. Dr Booth, owner of investors New Sparta, has interests in a number of fast-growing companies including Icon Film Distribution.
Nigel Eastwood, CEO of New Call Telecom, says: “I am delighted New Call has acquired WaveCrest. There are considerable synergies between our two companies and this acquisition is in line with our international expansion strategy. In common with Nimbuzz, which processes more than 1bn VoIP call minutes per month, WaveCrest has a global reach built on their state-of-the-art technology.”
New Call Chairman, Dr Jerome Booth, says: “Wavecrest is a dynamic, fresh, highly motivated business with exceptional leadership and a commitment to growth. I’m excited by the new opportunities this acquisition represents. The global telecoms sector is changing fast and through targeted acquisitions such as WaveCrest and Nimbuzz, we will be in a position to capitalise on this worldwide telecoms explosion.”
WaveCrest CEO, Chris Adams, says: “This is a transaction which makes sense on many levels. The day-one synergies are significant to the group, and with New Call’s appetite for further acquisitions in the near future we are very excited to join this fast-growing international telecoms group. The increased leverage this gives WaveCrest allows us to build on the vastly successful hosted solutions, such as for Tesco, and be an enabler to an ever-increasing number of global brands.”
About New Call Telecom
New Call Telecom recently established a company in the Netherlands as a platform for its International acquisitions. The business is planning further acquisitions in India and the UK, group revenues are projected to pass $200m during 2015. New Call Telecom in the UK is based in London and part of the New Sparta Group of companies. New Call has it’s contact centre in Nelson Lancashire, and business support service centre in New Delhi, India, New Call Telecom was founded in 2010 when its chief executive Nigel Eastwood led a management buyout of the business from its US parent PTGi. With over 750,000 annual subscribers, New Call Telecom today is a price leader in the UK residential telecom market through its newly renamed product Fuel Broadband, offering great value phone and broadband packages, and Planet Talk, Just Dial and Rate Buster, the low cost international calls services.
With over 300 active interconnects, WaveCrest provides a full range of termination and origination services throughout the world. WaveCrest has worked with some of the best known brands to deliver cutting edge products which provide real value to both the brand owner and the end-user. WaveCrest directly operates a number of end-user focused products delivering high quality, low cost international calling solutions under it’s own brands.
About New Sparta
New Sparta is the private office of Dr. Jerome Booth, economist, entrepreneur, investor, commentator and leading expert on emerging markets. The name encapsulates the passion and focus of New Sparta’s business philosophy. New Sparta has invested in a range of businesses in telecoms, film, journalism, publishing and insurance. Synergies exist between several of the business sectors, in particular between telecoms/broadband and film/media. The New Sparta portfolio of companies is currently expanding further within the existing business sectors, including into emerging markets, where group executives have particular experience.