Telecoms provider Daisy has acquired mobile phone company Fone Logistics for £3.6 million.

Telecoms provider Daisy has acquired mobile phone company Fone Logistics for £3.6 million.

Under the deal, Fone Logistics will be managed by Daisy Group business Anglia Telecom Centres, and Daisy intends to discontinue or hive out some areas of the business upon completion.

Matthew Riley, CEO of AIM-quoted Daisy, says: ‘We are delighted to be able to announce this acquisition, which increases our competitive position in the mobile section of the unified communications market. This acquisition is also consistent with the Group’s stated ambition to further consolidate the fragmented communications market and enhances our product offering to the UK SME market. We will be continuing to pursue this strategy.’

Northumberland-based Fone Logistics is a supplier of mobile phone handsets and airtime to dealers, who sell to small- and medium-sized businesses. Fone Logistics receives commission from mobile networks for connecting customers, having commercial relationships with O2, Vodafone and Orange, and trades with manufacturers including Nokia and Sony Ericsson.

For the six months to April, Fone Logistics declared revenues of £19.6 million and pre-tax profits of £500,000.