AltX-listed telecoms business Huge Group has bought African Paradigm Communications, which trades as One Communications (OneCom) and VoCall.
The company declined to disclose the value of the acquisition, which will be the second purchase Huge has made in under a month. The telecoms business bought a majority stake in mobile advertising business, Eyeballs, in mid-March.
Johannesburg-based African Paradigm Communications provides least-cost routing services.
"We are pleased to announce the acquisition of control of the OneCom and VoCall businesses, which will be quickly and efficiently assimilated into the Huge Telecom managed telecoms business, and will assume the Huge Telecom brand," says Huge Group executive chairman Anton Potgieter.
He says the company expects a growth curve in managed telecoms services despite the trying financial times. "This is because corporate telephone spend is vital to any organisation`s survival - so as times get tougher, it is vital to have proper control of telecoms spend without compromising on the quantity, or quality of the business`s essential communications needs."
In the midst of an acquisition boom, the company is in discussions with a possible investor that could see it delist. The company released a statement last week saying if the offer were to go through with the unnamed investor, shareholders would be offered the option to sell back their shares at R1.60 per share.
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