Hungry Daisy Group scoffs The Net Crowd
Yum yum, tasty IP'n'data nourishment
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Acquisitive telco services player Daisy Group has swallowed IP data specialist minnow The Net Crowd (TNC) for an undisclosed sum.
This adds a data and convergence play to the telco and Unified Comms businesses that are already housed by the group.
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The new wing of Daisy will report to the Wholesale Division but continue to be led by managing director Trevor Rolls and sales director Steve Kirby.
Rolls founded Prime Business Solutions, an IP telephony business that was sold to 2e2 in 2004 for £22m, one of the many buys the giant integrator made in the course of amassing crippling debts that sank 2e2 this week.
In the year to 31 March, TNC filed abbreviated accounts showing that the business has net assets of £54,000.
Daisy CEO Matthew Riley said in a canned statement that the deal gave his group a foothold in the expanding IP and data market, opening up "cross selling" deals among both companies' customers.
In its last set of numbers for the year to 31 March 2012, Lancashire-based Daisy saw turnover rise 31 per cent to £348.6m and operating losses narrowed to £13.2m from £15.8m a year earlier.
The group has hoovered up numerous firms since embarking on a buy and build strategy as Daisy in 2009, consuming AT Comms, Eurotel, Redstone's telco arm and BNS Telecom to name a few. ®
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