The company Nfon is acquiring Mainz-based Deutsche Telefon. The deal is part of the Munich-based company's expansion strategy.
Nfon offers cloud telephone systems and last year ventured to go publicThe Munich-based company is now acquiring the shares of Deutsche Telefon Standard AG with the proceeds from the IPO and debt capital for approximately €17 million. In addition, the existing shareholders of Deutsche Telefon Standard AG will acquire a stake in NFON through the issuance of new shares as part of a capital increase with a total volume of approximately €2.5 million. The transaction is expected to be completed during the first quarter of 2019. The deal is part of the Munich-based company's expansion strategy.
Nfon aims to become the number 1 provider of cloud telephony in Europe
Founded in 2007, Deutsche Telefon specializes in IP telephony using the SIP (Session Initiation Protocol). The company, with 65 employees, also sells a cloud telephone system. Hans Szymanski, CEO and CFO of Nfon, says:
"We want to become the number 1 for cloud telephony in Europe. Acquisitions are an essential part of this journey. The merger will create a comprehensive cloud product portfolio that is currently unique in Europe. This gives us another clear competitive advantage in the future market for cloud telephony. Through the acquisition, we are gaining excellent employees for our company."
At the same time, according to Szymanski, the company is expanding its product portfolio, broadening its customer base and opening up additional sales channels by expanding its partner network.
