Two major acquisitions have transformed the growth prospects of Alternative Networks (AN.), a provider of managed voice and data services to businesses.
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To help offset the ongoing decline in revenues from fixed-line telephony services, the company decided to put the cash previously sitting on its balance sheet to use. It purchased two businesses in January for £52.3m in cash: Intercept IT, a provider of hosted desktop solutions and traditional on-premise server services, and Control Circle, a provider of complex cloud-based services, among other things.