B2B telco Daisy Group has acquired two wholly-owned data and managed services divisions of IT provider Niu Solutions for £15.4m.
On 4 April, Daisy said the acquisition of Telinet and Ipotimi would strengthen its mid-market presence in unified…
B2B telco Daisy Group has acquired two wholly-owned data and managed services divisions of IT provider Niu Solutions for £15.4m.
On 4 April, Daisy said the acquisition of Telinet and Ipotimi would strengthen its mid-market presence in unified communications.
To finance the acquisition, Daisy has paid £12.4m with immediate effect, with £3m deferred for up to two years.
Less than a week before, Daisy said it had acquired local managed services provider Outsourcery’s Vodafone mobile solutions business for £12m in cash.
Daisy said it had acquired 100% of the issued share capital of Hamsard 3155 Limited, Outsourcery’s ultimate holding company, through a recently extended credit facility – which expanded by £40m to £115m – from Barclays, Lloyds, Yorkshire Bank and HSBC.
Daisy CEO Matthew Riley 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 smartphone adoption and the uptake in mobile data, which we are seeing in the industry.” He added: “This acquisition is yet another step towards achieving the group’s stated goal of consolidating the fragmented reseller marketplace.” Liberum Capital is Daisy’s financial adviser.
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