Daisy begins 2010 with another acquisition

18 Feb 2010

In line with its previous claims that it would look to make further acquisitions in 2010, UK telco Daisy Group has offered GBP0.20 (USD0.31) per share for the entire stake of local operator BNS Telecom Group, Proactive Investor reports. Based on the per share offer price the value of BNS Telecom would be around GBP10.45 million, and represents a 220% premium on the closing price of BNS the day before it was delisted from the Alternative Investment Market (AIM).

BNS is a voice-over-IP (VoIP) carrier and reseller of fixed and mobile lines, minutes, data and hardware and other value-added services, and in the twelve months to end July 2009 it had a turnover of GBP36.9 million, up from GBP32.6 million a year earlier. Daisy claims that the purchase will further enhance its position in the reseller market, with Matthew Riley, Daisy CEO, noting: ‘This offer makes great sense for Daisy, given the scale and position of BNS within the UK SME market. This acquisition will strengthen our position in the reseller market and is another step towards the Daisy Group consolidating this fragmented sector following the integration of our previous acquisitions, Daisy Communications, Freedom4, Vialtus Solutions, Redstone Telecom, AT Communications and Eurotel, and the completion of the acquisition of Managed Communications Limited earlier this month.’

United Kingdom, Daisy Group