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Mergers and Acquistions News

Categories: Telecoms

November 10th 2010, 17:16PM

UK telecoms group Daisy Plc will acquire SpiriTel Plc for £27.3 million, or 51.5p per ordinary share, the firms said in a statement.

Lancashire-headquartered Daisy provides unified business telecoms services to over 70,000 customers in the small to medium-sized enterprise (SME) market.

SpiriTel supplies voice over internet protocol (VoIP) solutions and has offices in London, Wigan, Cardiff and Glasgow.

Daisy sees its acquisition as enabling it to extend its reach among SMEs as well as national and international companies and organisations, offering its four-strong product range of mobile solutions, data solutions, systems services and network services.

"This is the largest acquisition the company has made since coming to market last year. The board believes that this acquisition gives Daisy Group a strong foothold in the mid-market, strengthening our sales team and engineering force, while significantly enhancing both our product portfolio and customer base," Matthew Riley, chief executive officer of Daisy, said.

Earlier this year (August 24th), SpiriTel announced it had secured a contract with Punch Taverns to provide voice and data products across 800 of the pub group's 7,100 UK sites.
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