Opal, the B2B division of The Carphone Warehouse Group, has acquired its former long-term partner V Networks which has reaffirmed its commitment to be the channel 'exit king' after securing the acquisition deal.
The London-based service provider was launched in September 2005 on the premise of giving dealers the opportunity to maximise on the value of their bases by agreeing to pass billing customers over to a buyer in September 2008. Opal has now been revealed as the buyer, agreeing a deal that will deliver on this commitment and setup a programme for the future.
Since launch, V has built a 100 plus partner base on the back of an aggressive marketing programme, focussed on delivering dealers a guaranteed exit plan.
Speaking exclusively to Comms Dealer, V Networks Sales Director Mark Shraga said: "In a very short time period V Networks has delivered on its promise and is giving partners exit cheques, many of which run to six figures. We are now giving channel players who did not join us originally another exit plan that could double the value of their business in 14 months. Our V2 plan will commence in October this year, with a planned exit by Christmas 2009.
"Opal brings with it the substantial resource of a FTSE 250 company. It is also the third largest operator in the UK. This acquisition provides our partners with the opportunity to maximize their returns and margins not only through Opal's traditional services but also through new next generation propositions."
Tim Huckle, Managing Director of long standing Luton partner Procom, said: "The deal with V Networks has delivered value to us in spades. The world of telecoms is changing rapidly and any chance to maximise on database value has to be taken now."
Nathan Stenson, Director of Opal's Wholesale & Indirect channels, added: "Opal is delighted to announce the strategic acquisition of V Networks and we are committed to working with the same team to deliver V2, which will represent the fastest and best guaranteed buyout offering in the market."
Shraga added: "This is a fantastic opportunity for all of our partners to double their value with V2 and of course, after the success of V Networks first exit, a number of new partners now have every reason they need to join us and make hay whilst the sun shines."