In brief...: Glen Group in takeover

Jul 4 2008

Telecommunications firm Glen Group has taken over a rival in adeal worth £100,000.

The Edinburgh company acquired all the share capital of Paisley ISP Colloquium with cash from existing funds. The takeover was completed through Glen Group subsidiary Pinnacle Telecom.

Colloquium has its own telecom switch and provides voice, VoIP, broadband and data solutions to SME customers.

Alan J Bonner, chief executive of Glen Group, said: "The acquisition of Colloquium delivers valuable expertise, customers, cashflow and cross-selling opportunities together with the enhanced status of a public telecommunications operator, all at amodest cost."