Telecoms
Gamma Communications plc
Analysts
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Company Description
Gamma is a leading provider of Unified Communications as a Service (UCaaS) into the UK, Dutch, Spanish and German business markets (having built its European operations through acquisition), supplying communication solutions via its extensive network of trusted channel partners and also directly. Its combination of network investment, a digital-first approach and in-house development skills has enabled Gamma to develop a comprehensive portfolio of communications services with a significant amount of intellectual property. It offers flexible solutions and enjoys a collaborative culture with specialist expertise of business communications. Its connected communications offering relies on sophisticated, dependable and secure products and services. Gamma provides end-to-end control and technical integration of network services.
Investment Summary
Gamma is active in an exciting growth area of the telecoms market and its strategic positioning allows it to compete strongly. The group has now made six acquisitions that have established its presence in the Netherlands, Spain and Germany. We note that, together, the Cloud PBX markets in Spain, Netherlands and Germany represent an opportunity more than three times the size of that of the UK, representing ideal opportunities for Gamma. We also anticipate that the group will further expand its European presence via more acquisitions. Meanwhile, we expect Gamma to continue to benefit from its resilience in the current operating environment through a range of growth opportunities in both the UK and European unified communications markets.
Recent Content

Q1 update – on course for another growth year
19/05/2022
Gamma has today issued a Q1 trading update, coinciding with its AGM. The update confirms that the year […]

Steady progress over choppy waters
22/03/2022
Gamma’s results for the year ended 31 December 2021, released this morning, are broadly in line with our […]

Positive trading update
12/01/2022
Gamma this morning issued a positive trading update for the 2021 period. Revenue is within the current consensus […]

Europe – growth, skills and reassurance
24/11/2021
Gamma’s Capital Markets Day (CMD) on 9 November focused on its European operations. The proceedings started with a […]

Moving resolutely forwards
07/09/2021
Gamma continues to produce consistently good results with these interims reflecting a strong business performance in both the […]

Another good half year of growth
13/07/2021
Gamma’s trading update for H1 2021E notes another good performance, with growth in line with market expectations for […]

CMD underlines strategic progress
17/06/2021
Gamma’s recent Capital Markets Day (CMD) focused on its market opportunity and product portfolio. There were also demonstrations […]

On track Q1 performance
20/05/2021
Gamma’s AGM trading update confirms the continued momentum in the business during Q1 2021E as the group sees […]

FY 2020 results confirm another strong year
23/03/2021
The recent acquisition of Mission Labs was one of strategic importance to Gamma, in our view. It exemplified […]

Acquisition of Mission Labs augments offerings
03/03/2021
The acquisition of Mission Labs for an initial £40.2m adds recurring revenues from a business which will bring […]

Clear delivery on ‘optionality’
11/01/2021
Gamma’s trading update for its financial year to the end of December 2020 reflects another strong year for […]
Company Management Team
Andrew Taylor
Chief Executive Officer
Andrew has over 22 years’ experience in the telecommunications industry, and has a demonstrable track record of achievement in previous roles, both in the UK and internationally. Until recently, Andrew was Chief Executive Officer of Nomad Digital, a provider of IP connectivity and digital solutions to the global transportation sector. In this role (2013-2017), Andrew was responsible for establishing Nomad as a leader in the sector, and when acquired by Alstom in 2017, was serving over 50 global customers from 20 offices. Before joining Nomad, Andrew was Digicel’s Regional Chief Executive Officer (2012-2013), with responsibility for all fixed and mobile operations across the Northern Caribbean. In this role, Andrew had responsibility for all fixed network services and business/ ICT solutions across 26 international markets, and was responsible for driving significant growth in both revenues and profitability. From 2008 to 2010, Andrew was Chief Executive of Intec Telecom PLC, a provider of software solutions. After a period of significant growth and business improvement, Intec was acquired by CSG in 2010.
Andrew Belshaw
Finance Director
A Chartered Accountant by background, Andrew has worked in both audit and corporate finance at Deloitte LLP and Ernst & Young, specialising in providing advice to a wide range of clients in the technology sector. After leaving private practice, Andrew worked alongside the Commercial Director in a new business development role at Xansa plc before joining Gamma. Andrew has a degree in Maths from St John’s College, Cambridge and gained an MBA from Warwick University Business School. He is a Fellow of the Institute of Chartered Accountants in England and Wales.