AO World has agreed to acquire Mobile Phones Direct for £32.5 million.
AO has said that the acquisition will help to boost its mobile proposition. It will also help in its strategy of adding new complimentary categories to its offering.
Mobile Phones Directs revenues were £121.7 million and their EBITDA was £5.5 million in the year ended 31st March.
Steve Caunce, chief executive of AO World, said of the acquisition: "In coming together, AO will achieve instant scale and be well-placed for future opportunities within a highly attractive and growing UK mobile phone market.
"With 5G services expected to launch over the next two years and as the electrical products we sell become more connected than ever before, moving further into the mobile market is a logical next step for us."
