Serial entrepreneur Jason Drummond is steering one of the companies he founded, internet telephony specialist Coms, into a new broadband package with Milan-quoted Tiscali as he eyes acquisitions and continental expansion. Drummond, who started his first venture Micromax at the age of 15 distributing computer software through newsagents, suggests continental Europe offers a market where the company could advantageously provide commercial customers with large savings.

AIM-quoted Coms offers proprietary voice-over internet protocol technology for smaller to medium-sized concerns. Drummond, who listed Virtual Internet on AIM in 1999 as the first web hosting company on a primary European market, argues Coms can cut call costs between 30 and 40 per cent from other telephony suppliers – and 50 to 60 per cent from standard BT rates.

London-based Coms, which upgrades its systems every month, still makes gross margins of nearly 40 per cent, says Drummond, whose previous company floats include e-business incubator Xworks (now Gaming Corporation) and Nettworx. Coms is talking about a tie-up with a significant broadband group.

Revenues are booming. Undaunted by increased interim losses of £516,000, Drummond is contemplating takeovers at home and abroad for the company, whose clients include Halfords, John Lewis, the Legatum hedge fund, the Federation of Small Businesses, Glastonbury Festival and Pinewood Studios.