Serial acquirer Daisy Group Plc has agreed to acquire rival Redstone Telecom for up to £17 million.
Serial acquirer Daisy Group Plc has agreed to acquire rival Redstone Telecom for £17 million.
The acquired business is the telecoms division of London-based IT and communications company Redstone Plc. As part of the deal, Daisy will acquire Redstone’s fixed line and mobile service businesses. In the year ending March 2009, Redstone Telecom generated a turnover of £74.7 million.
The deal comes after Uxbridge-based Daisy acquired AT Communications and Eurotel earlier this month. The deal is expected to complete on 28 August 2009.
Daisy chairman Peter Dubens said: ‘The acquisition of Redstone is another step in pursuing our stated strategy of becoming one of the largest UK providers to the SME and mid-market of telecommunications services and solutions.’