UK's Daisy Group starts acquisition spree

The UK’s freshly AIM-listed telecoms carrier, the Daisy Group, has acquired the distressed assets of two service providers that were plunged onto administration on Monday.  

The Daisy Group, formerly known as Freedom4 Group was formed six weeks ago via a back door listing on the AIM stock exchange and has been on the acquisition hunt following a capital raising of €97 million.

The reverse takeover included the acquisition of Vialtus Solutions, a provider of managed IP hosting and connectivity solutions to more than 5,000 customers. The new entity boasts over 40,000 customers.

The group announced on Tuesday that it had bought the assets of  IT company AT Communications for €8.23 million and  telecom reseller  Eurotel for €15.8 million.

Daisy Group CEO Matthew Riley, said in a statement that the transactions were “the first steps for Daisy in executing its strategy to consolidate the fragmented reseller market and become a dominant force in the SME and mid-market arena.  Both companies have good reputations within the industry and, as part of the group, will support Daisy in delivering an excellent service in all areas of communications.”

 

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