Euphony makes a Spanish acquisition

Euphony has made its first foray into the Spanish telecoms market with the purchase of fixed-line company Affinalia.

The network marketing telecommunications company, which now has a presence in six European countries, reached an agreement with venture capital company Saarema for the acquisition of Affinalia as the first step in a move towards market penetration in Spain.

Says Euphony CEO, Giles Redpath: “Entering the Spanish market is an important milestone for Euphony. The acquisition of Affinalia is the ideal platform for the development of our network marketing model in the region.

“Spanish consumers are ready for a viable alternative to Telefonica and network marketing is the most effective way of reaching them.”

Affinalia has provided Spanish fixed-line phones since 1999 and specialises in offering telephone services with internet access. At present it has some 40,000 customers throughout Spain.