AO WORLD PLC has announced the acquisition of certain assets of A1 Comms Limited (in administration), including the intellectual property rights to the websites www.affordablemobiles.co.uk, www.buymobiles.net, and Samsung url www.mobileshop.com. The transaction was valued at £2.2m in cash and is considered a class 2 transaction under the UK Listing Rules. The acquisition is part of AO's strategy to expand its mobile proposition, providing expertise and synergies to accelerate this ambition. Additionally, the company has saved 73 jobs through this transaction.
For the year ended 30 April 2022, A1 had gross assets of £41.6 million and profits of £0.5 million. The acquisition does not involve any key individuals important to the transaction. AO's Founder and Chief Executive, John Roberts, and Group CFO, Mark Higgins, are the key contacts for any inquiries related to this announcement.
AO World PLC, headquartered in Bolton and listed on the London Stock Exchange, is the UK's most trusted major electricals retailer. The company's mission is to be the destination for electricals, offering major and small domestic appliances, a growing range of mobile phones, AV, consumer electricals, and laptops. Additionally, AO provides ancillary services such as installation of new products, collection of old products, product protection plans, and customer finance. AO Business serves the B2B market in the UK, providing electricals and installation services at scale. The company also operates a WEEE processing facility, ensuring responsible disposal of customers' electronic waste.