Mobile phone business, Fonehouse, has been snapped up by newly formed KTM Online. The new owners are GreenTech Distribution’s Richard Crawley and Lucky Anand and Mobile Phones Direct’s former CEO Ben Branson and its former online marketing director Simon Weedon.
The high street brand, founded by Clive Bayley in 1994, will continue operating as before, working with the same retail partners and with the same employees – KTM Online has confirmed there will be no job losses resulting from the deal.
GreenTech is set to continue as before but KTM will be able to access GreenTech buying power and access a wider range of products, which will increase opportunities for Fonehouse’s retailers
The CEO of KTM will be Ben Branson, working with Simon Weedon. Clive Bayley will continue to be involved with Fonehouse, however. He will stay on the board in non-exec role and will also retain ownership of TechHouse, the IQ Mobile MVNO, the Nottingham Call Centre and the company’s B2B operations.
Bayley said that the company was in good hands. “This is a positive move that will enable a stronger company going forward. Fonehouse will benefit from industry-leading expertise in online retailing and access to a broader range of products and product offers, as well as access to the financial backing of its new owners.”
He added that the Fonehouse brand needed to be beefed up by an online presence to complement the physical retail estate. "In Ben and Simon, KTM Online has fantastic online retail pedigree, but at least as exciting is the experience that Richard and Lucky bring as the owners of the fastest growing company in the mobile phone industry."
Are you a pro? Subscribe to our newsletter
Sign up to the TechRadar Pro newsletter to get all the top news, opinion, features and guidance your business needs to succeed!