Telecoms technology group eServGlobal is raising £25.2 million at 46p to fund the acquisition of larger, profitable French group Ferma.

Listed in Australia and on AIM and headquartered in Sydney, eServGlobal, which moved into the black earlier this year, supplies intelligent networking software to international telecoms carriers. Run by its founders Patrick McGrory and Ian Buddery, eServGlobal made a net £485,000 in the year to last June on £16 million revenues and claims several attractions in the purchase of Ferma, which made £2.5 million pre-tax in its last financial year.

The Australian group argues the deal 'substantially' increases the 'end-to-end breadth' of its existing solutions and provides eServGlobal's current capabilities the opportunity for expansion into network evolution, convergent charging and 'next-generation' messaging. Ferma supplies telecoms companies in 40 countries, having developed its open 'Divaphone' platform for fixed, mobile and internet infrastructure on all networks.

eServGlobal, whose operations span the Far East, Britain, Australia and continental Europe, is separately raising £1.12 million from existing shareholder Guinness Peat and others, at 46p a share. Suspended ahead of the deal, eServGlobal's shares resumed trading today and shed 1p to 47.5p.