Mergers and Acquistions News
Categories: Telecoms
February 15th 2011, 17:02PM
Lancashire-based Daisy Group continues its series of acquisitions by picking up rival O-bit Telecom, one of its main competitors.
Terms have not been disclosed.
It is Daisy's 11th acquisition since listing on the AIM in July 2009.
Founded in 2002, O-bit, which claims to be an "alternative to British Telecom", offers a range of communication products, including VoIP, broadband and mobile, primarily to internet service providers and IT firms with a reseller operation in the telecoms and small and medium-enterprise market.
Daisy Wholesale said O-bit will enable it to increase it reseller base to over 1,000, helping them to expand and grow.
Carl Churchill, Daisy Wholesale’s managing director, said O-bit's founder David Breith had "built a strong and entrepreneurial business".
"By integrating O-bit into Daisy Wholesale, we will create a major force in the channel and will see many benefits as a result, including commercial competitiveness, capability and scale," he said.
In December last year, Daisy scooped up UK communications provider Network Europe Group (NEG) for £23.5 million.
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