Daisy acquires Outsourcery’s Vodafone mobile and data business for £12m
Company continues growth strategy
Telecoms group Daisy has acquired Outsourcery’s Vodafone mobile and data business for £12m in what has been described as a “strategic fit” for the company.
The part spin off will help Daisy become Vodafone’s largest mobile managed service provider in the UK, according to chief executive, and Growing Business 2007 Young Gun, Matthew Riley.
He adds: “Whilst enhancing the relationship that the group has with Vodafone, and significantly increasing the proportion of group revenues which are derived from mobile, this acquisition will also drive further cross-selling opportunities and provide the acquired customers with access to the group’s full portfolio of unified communications products.”
According to Outsourcery, the acquisition of its Vodafone base will allow the company to continue to shape its product offering and integrate its mobile voice and data solutions provided by O2. It hopes the sale will allow it to increase its focus on being the number one cloud services provider in the UK.
Outsourcery’s joint chief executive Piers Linney said: “We are delighted to have finalised the deal with Daisy, and we are extremely excited about the future of the Outsourcery business. The deal has resulted in the creation of a new and focused group of companies, boasting the leading teams in the industry.”
According to Daisy, the acquisition of Outsourcery’s mobile base has been funded through the group’s banking facility, and is “another step towards achieving the group’s stated goal of consolidating the fragmented reseller marketplace.”
As an AIM-listed company, Daisy has continued with its acquisitive growth strategy, acquiring Freedom4 in July 2009, BNS Telecom Group for £10.5m in an all-share deal and internet provider Managed Communications for £6.3m in 2010.
© Crimson Business. Ltd 2011