Sunday, April 20, 2008

Comptel Acquires Axiom Systems for IP Fulfillment Software

Comptel, which provides fulfillment solutions for broadband, mobile and IP networks, has acquired UK-based Axiom Systems. for a cash consideration of GBP 7.0 million (EUR 8.9 million). Comptel Corporation pays additional purchase price if Axiom Group's audited net sales in 2008 are more than EUR 13.5 million.

Axiom is a specialist in IP fulfillment . Net sales of Axiom were GBP 7.8 million (EUR 11.5 million) and the company was EBITDA negative in 2007. Axiom has currently 87 employees. The net sales in 2008 are estimated to grow about 15%. Axiom was established in 2000 when Axiom acquired Intellectual Property Rights from British Telecom for the work Axiom's founders had been providing as IT services to British Telecom's IP network. Axiom's head office and operations are located in Reading, UK.

Comptel said the consolidation of Axiom is estimated to increase net sales around 10% in 2008. Axiom's EBITDA impact to Comptel in 2008 is expected to be neutral before one-off items, which are estimated to be EUR 1 million.