Vodafone Ireland Acquires Perlico

Acquisition Enables Vodafone to Lead with Provision of Fixed Line Voice and Broadband Services in Ireland

Vodafone Ireland Limited (“Vodafone”), Ireland’s leading mobile telecommunications services provider, today announced that it has acquired Perlico (“Perlico”). Perlico is one of Ireland’s leading alternative providers of fixed line voice and broadband services. The acquisition of Perlico enables Vodafone to offer consumers a complete range of mobile, fixed line voice and broadband communications services.

Transaction Highlights
Provides Vodafone with a leading platform to offer a total communications suite of services in Ireland.
Combines Vodafone’s leading position in mobile communications with Perlico’s position as the leading alternative provider of fixed line voice and broadband services.
Combined businesses will comprise 2.2 million mobile subscribers from Vodafone and 62,500 from Perlico, of which 25,000 are broadband subscribers.
Provides existing and prospective customers with an enhanced range of communications services.
Perlico will be a subsidiary of Vodafone and will retain the Perlico brand.
Perlico will continue to build on its position as a leading, low cost provider of fixed line voice and broadband services in Ireland.
Perlico will continue to provide value, service and choice for the Irish consumer.

Perlico

Perlico is a leading provider of phone and internet services to Irish households. Since its formation in 2002, Perlico has competed successfully in the Irish telecoms market, providing industry leading, low cost fixed line and broadband services delivering millions of euro of savings to consumers. Perlico currently employs 67 people and has 62,500 customers at present of which 25,000 are broadband subscribers.

Vodafone

Vodafone Ireland Limited is a wholly owned subsidiary of Vodafone Group plc. With approximately 2.2 million subscribers, Vodafone is the largest mobile phone operator in Ireland and is currently the leading provider of mobile broadband solutions in Ireland with sales of the Vodafone 3G Broadband now exceeding 45,000. Vodafone does not currently provide fixed line or DSL broadband services. The acquisition of Perlico means that Vodafone will become one of the largest provider of broadband solutions in the Irish market with in excess of 70,000 customers.

Perlico and Vodafone

While Perlico will be a wholly owned subsidiary of Vodafone, it will continue to operate as a separate entity under the Perlico brand. The company will be run by its existing management team including Iain MacDonald, Perlico’s founder, who will remain as Chief Executive. Vodafone Ireland Chief Executive, Charles Butterworth, will become Chairman of Perlico’s Board of Directors.

The acquisition of Perlico by Vodafone will mean continued cost savings and choice for Irish consumers. Existing and prospective customers of both Perlico and Vodafone will also enjoy an enhanced range of services.

Existing customers of Perlico will experience no change other than the increased availability of services, combined with the Company’s commitment to continue to provide Ireland’s leading, low cost broadband and fixed line communications services.

The acquisition of Perlico will enable Vodafone to offer a complete range of mobile, fixed line voice and broadband services to Irish consumers. In the future, Vodafone will offer fixed line and broadband services through its extensive network of retail stores. Perlico will also sell Vodafone 3G broadband, as well as Vodafone pre-paid and post-paid packages, through their existing sales channels including the www.Perlico.com website.

Acquisition of Perlico

Vodafone Ireland Chief Executive, Charles Butterworth, commented “Perlico represents a compelling strategic fit for Vodafone Ireland. The acquisition brings Vodafone a significant step closer towards our objective to provide a complete communications service to our customers – including mobile, fixed line voice, broadband and internet services. It will allow customers, of both Vodafone and Perlico, the opportunity to choose the communications mix that best suits them.”

He concluded “Vodafone has established itself as the leading provider of mobile broadband solutions in Ireland. As we were the first mobile operator in Ireland to move into mobile broadband, Vodafone will also be the first mobile company to bring a total communications offer to its customers.”

Perlico Chief Executive, Iain MacDonald commented “We are delighted to announce our agreement to be acquired by Vodafone. Perlico and Vodafone represent a compelling combination. We will continue to provide the Irish consumer with the attributes which have made Perlico a success – value, choice and award winning service.”

Contacts

Vodafone
Vodafone Ireland
Rosemary Steen, 0870505050
or
Christine Heffernan, 087 9913517
or
Aisling Garvey FD, 087 4169662
or
Perlico
K Capital Source
Jonathan Neilan, +353 1 631 5500
jneilan {at} kcapitalsource(.)com