Daisy snaps up Telinet and Ipitomi in £15.4m deal

Daisy snaps up Telinet and Ipitomi in £15.4m deal

Daisy Group has bought data solutions and managed services business Telinet and Ipitomi from Niu Solutions for £15.4m.

The move follows Daisy's acquistion of Outsourcery's Vodafone business for £12m last week.

This latest deal strengthens Daisy's unified comms offering and opens up more cross-selling opportunities. Both companies supply data solutions, telephone systems, unified comms, connectivity, Microsoft presence and collaboration solutions to mid-sized SMEs.

Daisy said the purchase will boost its presence in the mid-market space and strengthen its data and engineering capabilities, with Avaya and Mitel trained engineers joining the Group’s engineering team.

Telinet and Ipitomi bring revenues and gross profits valued at £15.8m for the eight months to 31 August 2010, while assets are valued at £4.6m.

The deal will see Daisy pay £12.4m cash at completion with a further £3m deferred for up to two years.

Matthew Riley, CEO of Daisy Group said: ‘This deal with further strengthen Daisy’s position as a leading provider of unified communications to the mid-market. The acquired businesses are well-established and recognised as key competitors in the data solutions and managed services market.

He added: ‘The acquisition further bolsters Daisy’s group-wide capabilities, strengthening our sales team and engineering force, whilst significantly enhancing both our data and managed services portfolio and customer base.

‘Furthermore, we also see a great opportunity to cross sell Daisy Group’s mobile product set into this new base and provide these customers with a full, unified communications offering. In turn customers benefit hugely from being able to reduce their supply chains.

Riley continued: ‘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.’

Written by Mobile Today
Mobile Today


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