THE RETAIL BULLETIN - The home of retail news
HOME
RETAIL NEWS
RETAIL EVENTS
Fashion
Department Stores
Shopping Centres & Retail Parks
Home & DIY
Electricals
Health & Beauty
General Merchandise
Entertainment
Sports & Leisure
The Papers
Retail Solutions
Food & Drink
Interviews
Property
RETAIL INSIGHTS
RETAIL SOLUTIONS
ABOUT US
CONTACT US
SUBSCRIBE FOR FREE
AO to acquire Mobile Phones Direct

Online electricals retailer AO World has agreed to purchase Mobile Phones Direct for £32.5 million.

ELECTRICALS

AO to acquire Mobile Phones Direct

Online electricals retailer AO World has agreed to purchase Mobile Phones Direct for £32.5 million.

AO said the acquisition of the online business will provide a significant boost to its mobile proposition, which is currently limited to the sale of handsets. It will also help AO in its strategy of adding new complementary categories to its offering.

Mobile Phones Direct generated revenues of £121.7 million and EBITDA of £5.5 million in the year ended 31 March. Its websites had approximately 13.6 million visitors in 2017, up from 11.6 million in the previous year.

Commenting on the acquisition, Steve Caunce, chief executive of AO World, said: "In coming together, AO will achieve instant scaleand be well-placed for future opportunities within a highly attractive and growing UK mobile phone market.

"With 5G services expected to launch over the next two years and as the electrical products we sell become more connected than ever before, moving further into the mobile market is a logical next step for us."

The acquisition is expected to complete by 31 March 2019.

Email this article to a friend

You need to be logged in to use this feature.

Please log in here

Subscribe For Retail News

RETAIL EVENTS

Customer Engagement Conference 2019
Customer Engagement Conference 2019
5 June 2019
Cavendish Conference Centre, London W1
The 10th Annual Retail Customer Engagement Conference
The HR Summit 2019
The HR Summit 2019
8 October 2019
Hallam Conference Centre, London W1W 6JJ
The 11th HR Summit 2019, Hallam Conference Centre, 44 Hallam St, Marylebone, London W1W 6JJ
AI in Retail Conference 2019
AI in Retail Conference 2019
16 October 2019
Cavendish Conference Center, London W1G 9DT
Digitally native competitors and demanding customers are forcing a new perspective in retail. AI and machine learning can help you step up to the challenges; and some ‘small and beautiful’ solutions can increase your conversion rates within just a few weeks.
Omnichannel Futures Conference 2020
Omnichannel Futures Conference 2020
5 February 2020
Cavendish Conference Centre, London WG1 9DT
A truly omnichannel offering requires an understanding of customer behaviour across all shopping channels and how this should impact your overall business strategy