Chess Ltd acquired B2B airtime business from Avenir Telecom S.A. (ENXTPA:AVT) on June 11, 2014. The transaction was financed from a three-year, £10 million funding line with Barclays. The business reported a turnover of £22 million and its 55 staff based out of Avenir's office in Hertfordshire will now be added to Chess Telecom's overall base. Avenir's Managing Director Andy Tow will remain with the business, heading up the newly formed Chess Partner Services division as Managing Director. Knight Corporate Finance acted as the financial advisor for Avenir Telecom. Jonathan Watkins of DLA Piper UK LLP acted as legal advisor to Chess.

Chess Ltd completed the acquisition of B2B airtime business from Avenir Telecom S.A. (ENXTPA:AVT) on June 11, 2014.