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Inquam acquires the business and some assets of Dolphin Telecom Ltd., a UK mobile business telecommunications provider, for £25M
June 12, 2002
LONDON -- Inquam, an international company that develops and operates innovative specialised wireless networks, announced today that it has acquired the business and some of the assets of Dolphin Telecommunications Ltd, the UK mobile business telecommunications provider, for a total consideration of £25m. Nick Edward of Deloitte and Touche has acted as Administrator since August 2001Under the terms of the agreement, Inquam now owns the Dolphin UK TETRA network, which currently provides nation-wide digital coverage and high-quality specialised mobile radio services to 45,000 business subscribers. Inquam will continue to operate the Dolphin service and has a fully funded turnaround plan to position Dolphin UK as the leading provider of professional 'push-to-talk' services in its target market. This market includes the utilities, transport, logistics, and construction sectors.Inquam's senior vice-president of operations, Tony Greaves, formerly of O2 and Airwave, will lead the existing management team at Dolphin as CEO. Commenting on the acquisition, Tony Greaves says: "We believe that with the right strategy, sound execution, and secure funding, Dolphin can be turned around. We will continue to provide a good service, a reliable network and win new business customers in niche markets where demand for 'push-to-talk' services is high."Inquam Ltd.
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