Radius Payment Solutions acquires Reliance IP Networks
Fleet management solutions provider Radius Payment Solutions has acquired Macclesfield-based business telecoms provider Reliance Networks as part of an ongoing programme of diversification.
It marks the seventh deal by Radius in as many weeks – recent acquisitions include commercial insurance broker The Burley Group and telematics firm Sure-Trak while it’s also expanded its focus to large fleets under a deal with Key Telematics – and forms part of Radius’ wider group telecoms strategy. Radius was first established by owner Bill Holmes as a fuel card company in 1990 but now provides an array of products and services including telematics, telecoms and insurance to over 300,000 customers.
The acquisition of Reliance Networks will be used to help build a strong platform from which to market a range of products and services to the existing customer base and beyond. Reliance Networks bring significant technical expertise in fixed line to further strengthen the existing portfolio of mobile, hosted telephony and unified communications solutions.
Radius chief executive Bill Holmes said: “The acquisition of Reliance Networks supports Radius’ ambition to grow a market leading telecoms division. Reliance is a really good fit for our growing telecoms business as it has some unique technical capacities that will complement those of the other companies that have recently joined this division. This marks the seventh deal we have completed in the last seven weeks, three of which have been in Telecoms and I’d really like to thank both the Radius teams and our advisers for all their hard work that has helped make this possible.”