Best-of-breed business telecoms provider Daisy Group has announced the agreement of its bid to acquire IT infrastructure provider Phoenix IT, in a deal valuing the latter at £135 million.
“We believe that the acquisition of Phoenix creates the unique opportunity to become the first truly converged IT and unified communications provider in the UK mid-market,” said Daisy Group founder and executive chairman, Matthew Riley. “We look forward to combining with Phoenix and continuing to provide essential services to our customers to allow them to run and grow their businesses.
“This announcement builds upon the corporate acquisition strategy that Daisy has successfully executed, and continues to follow, in order to offer a diverse product portfolio as a leading UK supplier of unified business communications solutions to SMEs and mid-market businesses.
“The addition of Phoenix’s strengths in IT services and solutions, particularly its managed services and rapidly expanding cloud services, will further strengthen Daisy’s existing portfolio of products and services that represent the converging world of traditional telecoms and IT.”
Daisy Group CEO Neil Muller added: “Phoenix enhances our capability across the markets in which we have chosen to operate. It allows us to add to our capability and provide end-to-end solutions directly to our mid-market customers.
“Phoenix is one of the UK’s leading providers of IT infrastructure services, with award-winning cloud-based services and managed services expertise. As such, we believe the combined group is well positioned to increase its market share and continue to be the provider of choice for its customers and partners.”
Phoenix said that it recognised “the benefits achievable by combining with Daisy and, in particular, the ability to provide customers with access to a wider range of IT services and unified communication services”.