Daisy Group plc Acquires The Net Crowd Limited
MANCHESTER, England, February 1, 2013 /PRNewswire/ --
Daisy Group plc (AIM: DAY), a leading provider of business communications, announces that it has acquired the entire issued share capital of The Net Crowd Limited ('NetCrowd') for an undisclosed consideration.
NetCrowd is an IT data specialist that provides 'white label' professional services, maintenance and installations to the UK channel. The business works with vendors including Cisco, Juniper Networks, HP and Microsoft to provide complex and specialist IT services, delivered through its highly qualified in-house engineering force.
The Berkshire-based company has experienced rapid organic growth since its establishment in 2009 and its customer base is serviced by a UK-wide team of field engineers and ICT consultants, supported by a UK service desk.
Following completion of the acquisition NetCrowd's existing successful senior management team will continue to run the business, reporting into Daisy's Wholesale division. They will continue to be led by Managing Director Trevor Rolls and Sales Director Steve Kirby, who have a wealth of experience in the IP data market, Trevor having previously established and managed Prime Business Solutions, the IP Telephony company he sold to 2e2 in 2004.
The acquisition has been funded from the Group's existing borrowing facilities.
Matthew Riley, Chief Executive Officer of Daisy, said:
"As a fast-growing business with an experienced management team we believe this acquisition further enhances our service offering.
"This deal provides a strong foundation for Daisy Group in the growing IP and data market, and is a great strategic fit for the evolution of the business.
"The board believes this acquisition will drive further cross selling opportunities within our enlarged base while also providing Net Crowd's customers with direct access to the Group's full portfolio of products and services."
Notes to Editors:
About Daisy Group plc
Daisy Group plc (AIM: DAY) is a leading provider of unified communications to businesses.
The Group provides unified communications across a product portfolio including data, mobile, systems, maintenance and voice, offering an end to end solution for all business communications needs.
For more information on the Group please visit http://www.daisygroupplc.com
Daisy Group plc
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SOURCE Daisy Group PLC