Waterford-based IT, security and telecommunications firm HCS has acquired business telephone systems provider Fixaphone, also based in Waterford, for an undisclosed sum.
HCS has forecast that its turnover will reach €1m in the next three years with the acquisition, which will see 750 Fixaphone business telecom customers added to its portfolio, an increase of 125%.
Fixaphone specialises in on-premise private branch exchange (PBX) telephony sales and maintenance for small businesses, while HCS offers modern cloud-hosted telecoms solutions.
HCS said the move would allow it to provide for both customer bases with "an enhanced service offering as the move to the cloud continues in earnest."
Fixaphone will be integrated into HCS and trade as part of the HCS brand with immediate effect. HCS said the purchase would enhance its telecom sales team and allow it to cross-sell to each customer base.
In Association with
Fixaphone customers include Brothers of Charity Services, Keeling’s, Fitzgerald Power Chartered Accountants, and Mount Congreve Estate. HCS uses technology from Microsoft, Fortinet, Dell and Zultys.
“We are thrilled to announce this acquisition and welcome Fixaphone to our team," said Sean Hegarty, head of operations at HCS.
"Merging the pool of knowledge and experience that Fixaphone brings with our modern telecommunications solutions will give us a powerful edge. We look forward to building on this as we continue on our upward growth trajectory.
“In today’s hybrid work environment, effective business communication is paramount. We feel we are well placed as the move from on-premise to cloud accelerates and traditional non-digital telephony becomes obsolete.
"This acquisition will bolster our telecoms services offerings, so we can provide our customers with best-in-class solutions to allow them greater flexibility and enable them to grow.”
Mick Foley, managing director of Fixaphone: “HCS are leaders in the hosted telecoms sphere, so I’m delighted that we are joining forces. By combining our skillsets, we can provide an enhanced level of services and support to our existing and prospective clients.
“Though technologies and platforms are changing, the telecoms knowledge and experience built up with Fixaphone over the last 20 years will be invaluable on the next stage of the journey. We have the golden opportunity to leverage each other’s expertise to accelerate our shared growth.”
Abridged accounts for the 13-month period ending last March show HCS had net assets of €174,000 after making a profit of €65,000, down from €109,000 in 2020-21. The company employs eight people, with director remuneration of €133,000.
HCS recently announced plans to create five jobs as part of €1.13m investment to accelerate its growth in cybersecurity. That investment is part of a wider €3.2m effort to double the HCS workforce and turnover over the next three years.
Photo: (l-r) Mick Foley and Sean Hegarty.
