Chess makes Lincoln move
Directory Business Services (DBS), based in Lincoln, has been bought by acquisitive North West company Chess Telecom.
Internet marketing company DBS specialises in providing non-geographic phone numbers. It is Chess Telecom's 14th acquisition of the year.
The deal is expected to add £1m to Alderley Edge-based Chess' annual turnover and about 2,800 customers.
Richard Btesh, director at Chess, said: "This acquisition gives us a great cross-selling opportunity to provide our new customers with a suite of products to help improve their business communications."
DBS director David Clarke added: "Chess has built a reputation as acquisition experts and that title is well deserved. I've been hugely impressed by the level of professionalism at every level and at each stage of the acquisition process and am confident our customers will receive an exceptional level of service with Chess."
Earlier this year, Chess secured a £21m banking facility from Barclays Corporate to help fuel its ambitious strategy. Its consolidation drive helped to push underlying earnings up by 34 per cent in the year to 30 April 2011.
The company's earnings before interest, taxes, depreciation, and amortization (EBITDA) excluding exceptional items rose to £7.1m, while turnover increased by 12 per cent to £32.7m.
