Daisy splashes out on mobile distie
Just days after securing a
new credit facility
, acquisitive SME comms provider Daisy Group has splurged £3.6m in cash on Northumberland-based mobility distributor Fone Logistics.
Fone Logistics, which turned over £19.6m and made EBITDA of £500,000 in the six months to the end of April, supplies handsets, airtime and UC solutions to the SME market through around 600 individual resellers.
It also adds extra muscle to Daisy's existing relationships with O2, Vodafone and Orange.
The unit will be folded into Daisy's distribution business, Anglia Telecom Centres, although Daisy said that certain parts of the business would either be discontinued or hived off on completion.
CEO Matthew Riley said the acquisition would enhance Daisy's "competitive position in the mobile section of the unified communications market."
"This acquisition is also consistent with the Group's stated ambition to further consolidate the fragmented communications market and enhances our product offering to the UK SME market. We will be continuing to pursue this strategy," he added.
The acquisition of Fone Logistics is Daisy's third buy in 2010.