7/20/2011 12:27:00 PM
Former Daisy directors on acquisition drive
Former Daisy directors Russell Horton and Neil Gething are on a major £50m acquisition drive to buy up telecoms dealers to form a new unified comms business.
Horton and Gething are poised to buy at least two telecoms resellers to form the basis of the business, which will launch in October.
The pair have also identified a further 15 mobile, fixed, data and hosted services dealers as likely acquisition candidates but are keen to add more to the list.
Horton told Mobile the company plans to buy at least one company every six months, fuelled by £50m in funding, with a view to becoming the market-leading unified comms company for SMEs ‘within four years’.
The new venture, which has yet to be named, is targeting profitable resellers with turnovers of at least £5m.
Horton said: ‘We are targeting resellers who want to get into unified comms but don’t have the resources, or those starting to get into unified comms that need investment to take it further.’
He added: ‘We want companies that are really good at their core products, and we will look to retain the key staff of the companies we buy.’
The new venture is modelled in part on mobile provider Isis, which Horton and Gething sold to Vodafone in 2006 before joining Daisy.
Horton said: ‘We want to take the essence of what made Isis a great company – a good sustainable business with low churn, organic growth, excellent service, happy customers and good financial rewards.’
The new venture is developing a billing system based on the award-winning Isis MoBill Customer Care and Billing system, which Horton designed.
Horton explained: ‘This will be part of our USP. Unlike several ‘buy and build’ companies out there with inefficient and costly multiple billing platforms, our common platform will make cross-selling products to our customers much easier and the more products we sell, the better deals we can give our customers, making it a win-win situation for everyone.’