Daisy makes two new data, managed services buys

Daisy Group has forked out £15.4m to acquire the trading assets of Telinet Ltd and certain parts of Ipitomi Ltd from parent company Niu Solutions Holding Ltd. The two acquired resellers specialise in mid-market data and comms solutions and managed services, and bring new capabilities around th

Daisy Group has forked out £15.4m to acquire the trading assets of Telinet Ltd and certain parts of Ipitomi Ltd from parent company Niu Solutions Holding Ltd.

The two acquired resellers specialise in mid-market data and comms solutions and managed services, and bring new capabilities around the Avaya and Mitel channels to Daisy's growing engineering team.

Daisy CEO Matthew Riley talked up the strengthening of the firm's position in the mid-market UC sector, saying that both Telinet and Ipitomi were "well-established" and recognised as "key competitors".

"The acquisition further bolsters Daisy's group-wide capabilities, strengthening our sales team and engineering force, qhilw aignificantly enhancing both our data and managed services portfolio.

"Furthermore, we see a great opportunity to cross-sell Daisy's mobile product set into this new base," added Riley.

Up to 31 August last year, Niu's unaudited management accounts showed revenues of £15.8m and gross profit of £4.6m in relation to the two acquired assets.

Daisy will pay £12.4m cash at completion with the remaining £3m deferred for up to two years.

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