DOMINION acquires the Spanish company Phone House for 55 million euros.
DOMINION a Spanish multinational which offers Technological Services and Solutions in the sectors of Technology and Telecommunication, Industry and Energy, has come to an agreement with the English group Dixons Carphone to acquire Phone House España, the main independent telecommunication services retailer in Spain.
“We are a step ahead of the digital transformation and the consolidation of services in the industrial market, and we also want to position ourselves as an integrator of added value services around our homes. It is what we call “Smart House".
| CEO of Dominion
With this transaction, aligned with its innovation and growth strategy, DOMINION takes a leading role in the new trends of services for people and homes. The company will integrate Phone House in its Smart Innovation business model, where digitalization is a key pillar.
DOMINION´s CEO has also highlighted the potential for developing this business model in Latin America, “DOMINION is well established on Latin American countries; where we will apply the Smart House model.”
Fernando Urrutia, Chairman of Phone House, has declared that “We join a strong and solid group with a clear growth commitment and great experience in digitalization, which will represent a huge progress for the smart house project”.
The transaction, valued at 55 million euros, is also subject to the clearance of the Spanish antitrust authorities; expected during the third quarter of 2017.
“We believe in the need of a nearby store to centralize the growing demand of technological services from consumers. Phone house has also waged for this trend: a one-stop-shop model at home”
| CEO of Dominion