Daisy acquires MurphX

Daisy Group has acquired Communications provider MurphX for £4.8 million.

The acquisition is the latest in a string of deals by Daisy this year, and follows the most recent purchase of Fone Logistics in early June. A further consideration is payable based on growth in profits over a three-year period.

Lancashire-based Daisy is a phone and internet communications provider to SME and mid-market business customers.

Hampshire-based MurphX was established in 2001 and has 45,000 business broadband connections and partnerships with companies including BT and Virgin Media.

MurphX provides services including business broadband and virtual private networks to customers such as internet service providers and telecoms resellers, which in turn resell to SME and mid-market business customers.

For the five months ending April 2010 MurphX declared revenues of £4.8 million and net profits of £500,000.

Matthew Riley, CEO of Daisy, says: ‘This is a highly complementary business that strengthens our position in the data sales arena and is another step towards us consolidating this fragmented marketplace.’

Under the deal, the management team at MurphX will stay on and lead the integration of the business.

Nick Britton

Nick Britton

Nick was the Managing Editor for growthbusiness.co.uk when it was owned by Vitesse Media, before moving on to become Head of Investment Group and Editor at What Investment and thence to Head of Intermediary...

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