Big time small business telecoms specialist Daisy Group completes its first deal of 2010 with a £6 million swoop on a data networks provider after law firm Eversheds advises Daisy on the deal. Last year Daisy, which is based in Nelson, Lancashire, floated on AIM as a result of a reverse takeover and then set off on an acquisitions drive – This latest deal is for Nottingham-based Managed Communications, which it is buying for an initial £6.3 million.
Managed Communications provide data networks through bonded ADSL and SDSL lines to around 800 SME customers and with search engine optimisation tools, the company sells internet access, VPN, managed security, email and managed bandwidth solutions through its www.managedcomms.co.uk website and VPN services through its www.vpn.co.uk website.
Chief executive of Daisy, Matthew Riley, commented:
Strategically this is the right acquisition for us as we move forward into a data rich and more converged world”
The amount paid by Daisy will depend on the performance of the business over the next six months.
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Source: thebusinessdesk.com
Tags: business telecoms
