Mergers and Acquistions News
Categories: Telecoms
December 3rd 2010, 17:21PM
Lancashire-based mobile telecoms firm Daisy Group will acquire Network Europe Group (NEG), a UK communications provider, for £23.5 million.
NEG specialises in the supply, installation and maintenance of telephony systems to the UK's primary care sector.
Of its 2,000 customers, 1,200 are GPs, who use its 'Surgery Line' brand, designed specifically for surgeries and general practices.
Daisy Group has over 40,000 customers and provides voice and data products to small and medium-sized businesses.
For the ten months up to October 31st 2010, NEG generated EDITBA of £3.4 million and revenues of £11.2 million.
Daisy hopes to expand into the unified communications sector as a result of its acquisition.
"The acquisition of NEG is a continuation of our stated consolidation drive in the fragmented reseller market. NEG has a proven track record for organic growth, further potential to grow, and provides the group with a strong footprint in a market in which we believe we can increase market share further," Matthew Riley, chief executive officer of Daisy Group, said.
In November, Daisy purchased SpiriTel for £27.3 million.
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