Vyke Communications plc, a UK-based telecoms carrier, has acquired Iios for £75,000 in a bid to strengthen its existing network. The consideration will be satisfied with the issue of Vyke shares and a subsequent earn-out.

Established in 2003 to provide international carrier services to and from the developing world, Iios currently supports UK and international service providers. The company posted gross revenues of £2.3 million last year.

Executive chairman of Vyke, Tommy Jensen, said the acquisition would provide the company “with additional headroom as we continue to grow the business at a considerable rate. This acquisition adds to our capacity and enables us to satisfy the increase in demand for our products.”