The Channel logo

News

By | Paul Kunert 27th June 2013 10:35

Daisy petals close around midge MoCo

Engulfs another chunk of mobile-air space along with it

Daisy Group has devoured Kent-based minnow MoCo Communications for an undisclosed sum to boost its challenged mobile distie operations.

This is the third buy Daisy has made in the mobile airtime channel; it swallowed Anglia Telecom Centres in 2009; and Fone Logistics a year later.

Founded in 1985, MoCo had operated as an independent wholesaler and reseller of biz mobile and telecoms, primarily with O2.

It also purveys fixed line and data products, trading with both channel partners and directly to end users, promotes Office 365, offsite backup and IT support.

Daisy has racked up the acquisitions since it kick-started a mid-market roll up of comms and tech services firms in 2009, taking on in excess of ten businesses.

The group recently reported fiscal '13 numbers ended March with sales edging up one per cent to £351.5m, despite Daisy completing two acquisitions in the year that contributed tens of millions to the top line.

The Distribution arm was hit particularly hard in the year with turnover declining £12m to £40m. This was on the back of a "reduced level of mid-term contract renewal incentives… [from mobile telco operators]".

In a barely quotable canned statement, Daisy Distribution boss Dave McGinn said the bolt on buy "shares obvious synergies" with his division.

In abbreviated P&L accounts for calendar 2012, MoCo had net assets of £782,000. ®

alert Send corrections

Opinion

Walking on water, image via Shutterstock

Chris Mellor

IDC stats reveal who's who in the backup appliance bearpit
Carry on Cleo

Gavin Clarke

Infamy, infamy, Amazon and Microsoft have all got it in for me!

Tim Anderson

Also signals stronger cross-platform tools, access to new markets

Features

Nerd fail photo via Shutterstock
Shouting match
Single market vs. rest of the world
hacker
Mostly it's financial crime. Here's what all the cool kids' terms mean in English
Apple logo. Pic: Blake Patterson
Plenty of bumps in the 40-year road for Mac makers