Crn21 1200 300.jpeg

Daisy acquires Telinet and Ipitomi assets

Acquisitive comms provider makes second acquisition in a week

Daisy Group has bolstered its Avaya and Mitel skills by snapping up parts of fellow buy-and-build VAR Niu Solutions for up to £15.4m.

In a stock exchange announcement this morning, Daisy said it was buying the trading assets of Telinet and certain trading assets of Ipitomi, two of Niu Solutions' four subsidiaries.

It marks AIM-listed Daisy's second acquisition in a week after it grabbed Outsourcery's Vodafone mobile services business for £12m on Thursday.

Private equity-backed Niu Solutions, a brand which only came into being last year, is based on four acquisitions. Telecoms and UC specialist Telinet joined the group in January 2008, with Ipitomi coming on board in December of that year.

Niu also bought Evolution Voice & Data and Pasporte in 2008 and last year said it intended to make further acquisitions in the second half of 2011 to double its annual sales to £100m.

Telinet and the assets of Ipitomi included in the deal had revenue of about £15.8m in the eight-month period ending 31 August 2010, Daisy said.

It added that the deal would boost its clout in the mid-market and hand it extra Avaya and Mitel engineering capabilities.

Matthew Riley (pictured), chief executive of Daisy Group, said: "This deal will further strengthen Daisy's position as a leading provider of unified communications to the mid-market. The acquired businesses are well established and recognised as key competitors in the data solutions and managed services market."

The deal, which is conditional, is being performed by the firm's Daisy Communications arm. The payment will comprise £12.4m cash at competition with a further £3m deferred for up to two years.