pounds 35m telecom equipment firm sale

AN ENTREPRENEUR has pocketed an estimated pounds 35m yesterday after selling his telecom equipment company after just four years.

Eurotel, a Winchester-based company founded by Malcolm Bishop, a former British Telecom and Cable & Wireless executive, has been taken over by a new management team backed by venture capital group 3i. Founded in 1994,Eurotel makes intelligent devices, known as routers, which direct telephone traffic and provide sophisticated information about telephone usage. It has enjoyed explosive growth, doubling its sales annually for the past three years.