UK-based phone recycling firm Redeem acquires rival Eazyfone

By VCPOST Staff Reporter

Jan 30, 2014 09:25 AM EST

Electronic device recycling firm Redeem Holdings has purchased its rival Eazyfone. The financial terms fo the acquisition deal were not disclosed, according to Herald Scotland.

Redeem is based in Bathgate, West Lothian. The company said the addition of Eazyfone will beef up its processing capacity. In addition, the firm will also be able to add Envirofone, Eazyfone's consumer facing brand, to its portfolio, the report explained.

Eazyfone's main facility in Macclesfield employs around 50 people. The firm also has operations in the Netherlands, Sweden, and Ireland, the report said.

Redeem currently employs 250 people in total. The firm indicated that it was scrutinizing it's rival to see where it may gain savings, but it also intends to expand Eazyfone's existing business. Aside from its European offices, Redeem also has operations in Hong Kong and in the United Arab Emirates, Herald Scotland reported.

A Redeem spokesoman said of the acquisition: "It allows us to increase our capacity to refurbish devices and rather than just sending it to a low value market, in Asia for example, we can look to add value. So we can add parts or repair them and sell them back into other markets for a better price and ultimately extend the product life cycle."

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