- Gamma Communications said Tuesday it had acquired Netherlands-based telecoms group DX Groep for up to €27.2m.

Dean One, largely a channel-led business, focused on products that Gamma had strong knowledge of and experience in, Gamma Communications said. In the year ended 31 December, Dean One generated revenue of €15.8m and earnings (EBITDA) of circa €0.8m.

The acquisition would immediately enhance the company's earnings, Gamma said.

Under the terms of deal, Gamma paid an initial €13.2m on completion with a deferred payment of €14.0m dependent on future performance. The total maximum consideration would be based on 7.5 times the 2019 earnings (EBITDA) of the Dean One, Gamma said. 'We are really pleased to announce the acquisition of Dean One. It is an ideal way for us to expand into a new geography, opening up another growth opportunity for us,' said Andrew Taylor, Chief Executive of Gamma.

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