UK B2B telco Daisy Group has acquired local managed services provider Outsourcery’s Vodafone mobile solutions business for £12m in cash.
Daisy announced it had acquired 100% of the issued share capital of Hamsard 3155 Limited, Outsourcery’s ultimate…
UK B2B telco Daisy Group has acquired local managed services provider Outsourcery’s Vodafone mobile solutions business for £12m in cash.
Daisy announced it had acquired 100% of the issued share capital of Hamsard 3155 Limited, Outsourcery’s ultimate holding company, through a recently extended credit facility.
Back in February, Daisy increased an existing 3-year credit facility by £40m to £115m to support its acquisitive strategy plan.
The extended facility, originally secured on 4 June 2010, saw Barclays join existing lenders Lloyds, Yorkshire Bank and HSBC, which also increased their holdings.
Announcing its most recent acquisition, Matthew Riley, Daisy’s CEO, said: “Outsourcery represents a strong strategic fit for the group, bolstering our mobile division through its enhanced skill set and experience. This acquisition makes Daisy Vodafone’s largest mobile managed service provider in the UK.
“Whilst enhancing the relationship that the group has with Vodafone and significantly increasing the proportion of group revenues which are derived from mobile, this acquisition will also drive further cross selling opportunities and provide the acquired customers with access to the group’s full portfolio of unified communications products. The transaction also helps position us for the increase in smart phone adoption and the uptake in mobile data, which we are seeing in the industry.”
According to Riley, the group’s recently extended banking facility represents the support his group has behind its growth strategy.
“This acquisition is yet another step towards achieving the group’s stated goal of consolidating the fragmented reseller marketplace,” he added.
