Online electricals retailer AO has acquired some assets of the mobile phone retailer A1 Comms, saving 73 jobs in the process.

AO_van_prospects_profile

AO has acquired assets from A1 Comms and saved 73 jobs 

Derbyshire-based retailer A1 Comms went into administration in February this year, but AO has acquired certain assets for ÂŁ2.2m.

AO has bought the assets and intellectual property rights in the websites Affordable Mobiles, Buy Mobiles and Mobile Shop.

Before going into administration, A1 Comms’ most up-to-date accounts for the year to April 30 show a turnover of £152m, gross assets of £41.6m and post-tax profits of close to £425,000.

In a statement to the London Stock Exchange, AO said: “As AO seeks to expand its mobile proposition, the acquisition of the brands and platforms will provide AO with expertise and synergies that will accelerate this ambition. 

“AO is also pleased to have saved 73 jobs through the transaction.”

AO also owns Mobile Phones Direct and became the first UK online retailer to stock “as new” phones.

Topics