25 May 2012

Coms strikes Obsidian deal

22/11/2010 Robert Tyerman

Business internet telephony supplier Coms has clinched a reseller and distribution agreement with leading reduced-cost landline provider Obsidian Telecoms.

The AIM-quoted company says it has entered into a deal with Obsidian, the UK's No 1 provider of cut-price land lines to mobile services, to offer a mobile phone call savings package to Coms' customers.

Obsidian has developed a mobile gateway 'solution', allowing existing customers, including National Health Service trusts, to aggregate their mobile call minutes, which is claimed to cut their mobile phone call rates in some cases by up to 50 per cent. The two companies say they have won their first client, an unnamed employment agency chain, and Coms has completed interoperability testing of Obsidian's mobile 'solution' with Microsoft's new 'Lync' communications application, for inclusion in its pbx service.

Richard Bennett, chief executive of Coms, argues this 'will immediately generate a recurring income stream', which will help the company become profitable 'in the near term', having reduced first-half losses 39 per cent to £219,000 on turnover up 29 per cent to £1.9 million.

Shares in Coms, whose executive chairman is the entrepreneurial Jason Drummond, have traded betwween 8.75p and 2.10p over the past year, and now stand at 2.75p, up 0.25p this morning, valuing the company at £1.6 million.

Tags: AIM, Deals & contracts, Turnaround

Sector: Software & Computer Services

Companies: Coms

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