Investment Update

Following the acquisition of WaveCrest Networks, the WaveCrest business has been restructured with the vision of becoming the global leader in hosted international calling solutions, complementary products and services for migrant markets around the world.

Despite competition from free calling apps, WaveCrest Networks believe the international calling market remains strong as consumers know they can rely on traditional telephony to deliver high quality, uninterrupted calls to any telephone number on the planet

The new owners of WaveCrest Networks are very familiar with the major migrant calling corridors that exist between Europe, Asia and Africa and see a huge opportunity to consolidate the hosted international calling market through carefully targeted acquisitions. Further, they see the possibilities of using enhanced hosted services as a base for delivering additional, complimentary services such as International Mobile Top-Up (IMTU), money remittance and international bill pay.

Their first move sees the acquisition of the business assets of WaveCrest UK. As well as being a major player in the wholesale markets, WaveCrest has long been recognized as the go to provider of fully hosted, white label OTT international calling services.

The acquisition gives WaveCrest Networks a robust and highly scalable technology platform that will be central to their plans.

About the Owners

WaveCrest Networks has been acquired by Geoff Lockwood and Kevin Grant through a newly formed investment vehicle, SeaPeak Telecom. Geoff and Kevin are involved in various successful business ventures in Europe and Africa, along with charitable initiative partnerships, specifically in South Africa.

“We see WaveCrest as an extremely good fit for our ambitious growth plans within the hosted OTT international calling market and associated services space, with particular focus on Africa.”

19th October 2015:


WaveCrest, the global provider of branded voice solutions, and humanitarian aid charity Penny Appeal today signed a deal to develop a pioneering international calling app that will operate on a profit-sharing business model, allowing users to support the work of the charity while they talk.

Through the deal, WaveCrest intends to take on other similar international calling apps and attract consumers away from low-cost VoIP platforms, such as Skype and WhatsApp, by providing them with a compelling, charity incentive. Profits from international calls on the app will be split between WaveCrest and Penny Appeal.

One of the first of its kind, the Penny Appeal International Calling app will be developed in-house by WaveCrest, which has recently scaled up its mobile application development team, and calls will be routed via its well-established international call termination network. WaveCrest terminates in excess of 3 billion voice minutes per year, and has more than 300 active interconnects.

With a strong heritage as a wholesale telecoms provider, WaveCrest recently established itself as one of the leading providers of branded international calling apps for companies and charities. In 2012, the company partnered with Tesco to launch its successful international calling smartphone app. WaveCrest is also working with a number of organisations to launch branded calling apps over the next 12 months.

Penny Appeal works in over 30 crisis-hit countries around the world, providing life-saving aid to the poor and needy. With more Facebook 'Likes' than big names like Oxfam UK and partnerships with international celebrities such as world champion boxer Amir Khan, the charity is undergoing a period of significant expansion with the aim of tackling poverty in sustainable ways for even more people worldwide.

Calls will be competitively priced and the app will be available for download on both iOS and Android devices in Q4 2015. It will also have an internal advertising panel showing details of the charity campaign that the call is contributing towards. Customers will also be able to connect to Penny Appeal's 24/7 donation line directly through the app, and it allows customers to share the latest news and updates on charity campaigns via Facebook and Twitter. As calls on the app will be made through the phone's internal dialler function, users will also keep the same outgoing mobile phone number.

Chris Adams, CEO of WaveCrest, said: "As the international calling market comes under pressure from VoIP providers like Skype and, now, WhatsApp, the telecoms sector needs to find new ways to entice customers to our services. The reliable carrier-grade call quality we provide is one reason.

"But we must also start to think in different ways and partner with different types of organisation. In our global-village world, the telecoms industry has many new opportunities and choices. One of those is to make a conscious decision to help others. We have made that decision and I’m proud to be partnering with Penny Appeal.

"Penny Appeal is doing fantastic work worldwide and we believe many people will jump at the chance to donate profits of their calling costs to the charity. Customers will be able to keep the same mobile number and the app will be available for download on both iOS and Android devices. It doesn't cost the end-user any extra money and in fact they have the added convenience of being able to call directly from a well-designed and fully featured smartphone app.”

Aamer Naeem, Penny Appeal CEO, said: “Penny Appeal has a ‘small change, big difference’ philosophy, so bringing in regular donations from this profit-sharing business model will go a long way towards transforming the lives of the poor around the world.

“It’s fantastic to launch such an innovative offering and we’re delighted to be working with such a forward-thinking organisation like WaveCrest. We really believe our affordable way of contacting loved-ones overseas and at the same time helping those in need, will have a huge appeal to the public.”


For more information, please contact:
Jordan Greenaway
Right Angles
+44 7554 380927

Notes To Editors

About Wavecrest
With more than 300 active interconnects, WaveCrest provides a full range of termination and origination services throughout the world. They terminate more than 3 billion voice minutes per year, which generate more than $200 million in revenues. It recently opened a dedicated unit within the business to develop and launch branded international calling mobile applications. Headquartered in London, it has regional offices in France, Germany, Italy and Dubai. It was acquired in December 2014 by international digital services company New Call Telecom.

About Penny Appeal
Penny Appeal was launched in 2009 and now works in over 30 crisis-hit countries worldwide. As a humanitarian charity, we work to alleviate poverty by installing wells, caring for orphans and the elderly, building orphanages, opening schools, restoring sight, delivering nutritious meals, providing emergency aid and much more.

For more information visit

9th December 2014:


New Call Telecom, the rapidly expanding international telecom company, today announces the acquisition of leading international wholesale voice business WaveCrest. The acquisition comes only weeks after New Call acquired Nimbuzz, a fast-growing Indian mobile technology brand with more than 200m users across the globe.

Founded in 2001 and headquartered in London, WaveCrest has offices in Dubai, New York, Milan, Paris and Frankfurt. The company provideshigh-quality, low-cost international calling solutions to retail brand owners, other operators and end users. With a state-of-the-art IP network, WaveCrest terminates in excess of 3bn voice minutes per year and generates revenues approaching $120m. Since 2010 WaveCrest has been providing a fully hosted Over the Top (OTT) international calling solution for Tesco and is working with other leading brands to deliver similar OTT solutions to their existing client bases.

London-based New Call Telecom was established by CEO Nigel Eastwood after a management buy-in of the business from its US parent company, PTGi. In 2013, the economist, entrepreneur, investor and leading expert on emerging markets, Dr Jerome Booth became Chairman. Dr Booth, owner of investors New Sparta, interests in a number of fast-growing companies including Icon Film Distribution.

Nigel Eastwood, CEO of New Call Telecom, says: “I am delighted New Call has acquired WaveCrest. There are considerable synergies between our two companies and this acquisition is in line with our international expansion strategy. In common with Nimbuzz, which processes more than 1bn VoIP call minutes per month, WaveCrest has a global reach built on their state-of-the-art technology.”

New Call Chairman, Dr Jerome Booth, says: “Wavecrest is a dynamic, fresh, highly motivated business with exceptional leadership and a commitment to growth. I’m excited by the new opportunities this acquisition represents. The global telecoms sector is changing fast and through targeted acquisitions such as WaveCrest and Nimbuzz, we will be in a position to capitalise on this worldwide telecoms explosion.”

WaveCrest CEO, Chris Adams, says: “This is a transaction which makes sense on many levels. The day-one synergies are significant to the group, and with New Call’s appetite for further acquisitions in the near future we are very excited to join this fast-growing international telecoms group. The increased leverage this gives WaveCrest allows us to build on the vastly successful hosted solutions, such as for Tesco, and be an enabler to an ever-increasing number of global brands.”

For further information contact:

Paul Blanchard, Right Angles, (, 020 3468 4294

New Call Telecom

New Call Telecom recently established a company in the Netherlands as a platform for its International acquisitions. The business is planning further acquisitions in India and the UK, group revenues are projected to pass $200m during 2015. New Call Telecom in the UK is based in London and part of the New Sparta Group of companies. New Call has it’s contact centre in Nelson Lancashire, and business support service centre in New Delhi, India, New Call Telecom was founded in 2010 when its chief executive Nigel Eastwood led a management buyout of the business from its US parent PTGi. With over 750,000 annual subscribers, New Call Telecom today is a price leader in the UK residential telecom market through its newly renamed product Fuel Broadband, offering great value phone and broadband packages, and Planet Talk, Just Dial and Rate Buster, the low cost international calls services.


With over 300 active interconnects, WaveCrest provides a full range of termination and origination services throughout the world. WaveCrest has worked with some of the best known brands to deliver cutting edge products which provide real value to both the brand owner and the end-user. WaveCrest directly operates a number of end-user focused products delivering high quality, low cost international calling solutions under it’s own brands.

New Sparta

New Sparta is the private office of Dr. Jerome Booth, economist, entrepreneur, investor, commentator and leading expert on emerging markets. The name encapsulates the passion and focus of New Sparta’s business philosophy. New Sparta has invested in a range of businesses in telecoms, film, journalism, publishing and insurance. Synergies exist between several of the business sectors, in particular between telecoms/broadband and film/media. The New Sparta portfolio of companies is currently expanding further within the existing business sectors, including into emerging markets, where group executives have particular experience.