Daisy group makes another deal

Communications business Daisy Group has made its second buy in a week by acquiring the assets of Telinet and Ipitomi in a deal worth £15.4 million.

The deal, made through Daisy Communications, is with Niu Solutions Holding and follows Daisy’s acquisition of Outsourcery’s Vodafone mobile voice and data service.

Telinet and Ipitomi supply data services, telephone systems and communication tools to companies.

Matthew Riley, CEO of Daisy Group, says that the acquisition will strengthen Daisy’s position in the unified communications mid-market.

Riley, who was named Ernst and Young’s Young Entrepreneur of the Year in 2007 and has won the Bank of Scotland Corporate Entrepreneur Challenge, adds that the deal will enhance Daisy’s data and managed services portfolio and customer base.

‘This is further evidence of Daisy Group’s ambition to consolidate the fragmented reseller market and I believe we now have a very strong presence in the corporate mid-market space,’ he says.

Under the terms of the deal, an initial payment of £12.4 million is payable on completion, with the remaining £3 million deferred for up to two years.

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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