The board of AIM-listed business communications group Gamma Communications plc has agreed to a recommended £1.02bn cash takeover offer from private equity investor Epiris.
Under the terms of the transaction, which is being executed through the newly incorporated entity Bradbury Bidco Limited, Gamma shareholders will receive 1,120 pence per share in cash. The offer values the London-headquartered company’s entire issued and to be issued ordinary share capital at £1.015bn, representing an implied enterprise value of £1.079bn.
The offer price represents a 53 per cent premium to Gamma’s closing stock price of 732 pence on 7 April 2026, the final trading day prior to the commencement of the offer period. The acquisition is intended to be implemented by way of a court-sanctioned scheme of arrangement.
Gamma provides cloud communications, voice services, and unified communications technology to businesses across the UK, Germany, Spain, and the Benelux region. Epiris stated that taking the business private will allow for increased product investment and a renewed strategic focus on technology innovation, including artificial intelligence adoption, to accelerate organic growth.
Martin Hellawell, Chair of Gamma Communications, said: “Gamma has built a leading position in European business communications through sustained investment in its products, technology, people and customer relationships.”
“The board remains confident in the company’s strategy and long-term prospects. The board has nevertheless concluded that the acquisition provides Gamma shareholders with attractive and certain value in cash.”
The takeover decision follows Gamma’s acquisition of German cloud communications supplier Placetel from Cisco Systems in 2024 to strengthen its European market presence. That deal expanded Gamma’s footprint across Germany by integrating Placetel’s cloud PBX and unified communications suite into its portfolio.
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