Daisy Group has bought data network provider Managed Communications for an initial cash consideration of £6.3m.
The move is the company’s fourth acquisition in six months, following a £39m acquisition spree that concluded when it bought Redstone for £17m in August last year.
Managed Communications provides data networks through bonded ADSL and SDSL lines to its base of approximately 800 SME customers.
The company sells internet access, VPN, managed security, email and managed bandwidth solutions.
Daisy was formed when telecoms companies Daisy and Vialtus were reversed into AIM-listed Freedom Group in a £123m deal. Its acquisition of Redstone was its third in as many weeks, after buying telecoms and IT supplier Eurotel, and communications and technology company AT Communications.
Daisy has now firmly set its sights on dominating the SME market as a service provider/distributor, with what it considers to be unparalleled mobile, fixed and IT capabilities.
Daisy CEO Matthew Riley said: ‘Strategically this is the right acquisition for us as we move forward into a data rich and more converged world. The combination of Managed Communications and their product offering, with Daisy's sales force and SME customer base, creates cross-selling potential and the opportunity for margin improvement.
‘Through this acquisition, we have strengthened our data offering, increased our range of services and will be able to provide our SME customers with more of what they want.’
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