Deal will allow U.K.-based cell phone recycler to expand its operations throughout Europe.
Redeem Holdings Ltd., based in the U.K., has acquired the mobile phone recycling firm UPR Global, based in Estonia. UPR is Redeem’s Estonian partner in recovering, reusing and recycling mobile phones.
Redeem currently operates in 10 European, the Middle East and Africa countries. The company specializes in wholesale mobile electronics, recommerce and recycling. The acquisition will add six Nordic and Baltic countries to its coverage area. The company claims it is the largest mobile recycler in Europe.
UPR Global, which was formed in Estonia less than 3 years ago, expanded into Lithuania, Latvia and Finland. Last year a partnership agreement opened up the Norwegian mobile phone recommerce market.
Jorgen Berg, newly appointed CEO of Redeem OU, says, “Being part of the Redeem family allows us to access a lot of knowledge and experience. This brings us a unique opportunity to help grow Redeem as a global player by supporting MNOs and major enterprises in the Nordic Baltic region.”
Urvo Männama, founder of UPR and recently appointed business development director of Redeem OU, says, “Since our launch, UPR has enjoyed considerable operational successes and in the process delivered a great experience to our customers and clients. This acquisition brings together two great companies which are growing considerably. The combination of UPR Global and Redeem Holdings Ltd., reinforced by the successful Redeem brand, will be a powerful force in international recommerce.”