Daisy agrees GBP165m purchase of Alternative Networks

21 Nov 2016

In a deal announced by the London Stock Exchange (LSE) this morning, UK B2B telecoms operator Daisy Group has agreed the GBP165.3 million (USD204.0 million) takeover of Alternative Networks, a UK independent provider of B2B communications and IT managed services, listed on AIM (the LSE’s international market for smaller growing companies). Daisy’s statement said that, as part of its continuing corporate acquisition strategy, Alternative Networks represents ‘a strong, complementary fit with the Daisy Group’s existing business and operations,’ adding that the acquisition ‘will build upon Daisy’s recent acquisitions of Damovo and Phoenix IT in the managed services segment and will further broaden and strengthen its mobile and fixed line product and service offerings. In addition, the acquisition will further increase the Daisy Group’s scale, providing efficiencies for the combined businesses as well as improved cross-selling opportunities.’

United Kingdom, Daisy Group