Wed, 08 Dec 2010 | BUSINESS NEWS
A provider of communications services has acquired a firm within the same industry in a bid to increase its market share.
Daisy Group plc, which provides 'unified business' communications, has purchased NEG MBO Two Limited, (NEG) one of the top providers of communications to the UK's primary care sector, for an initial payout of £23.5 million.
NEG, which trades under the 'Surgery Line' brand, offers installation and maintenance support of telecommunications products to more than 2,000 clients within the care arena.
More than 50 per cent of them are GP surgeries. The firm pulled in revenues of £11.2 million in the first 10 months of this year and also noted 'strong organic growth.'
Chief Executive Officer of Daisy Group plc, Matthew Riley, said, “The acquisition of NEG is a continuation of our stated consolidation drive in the fragmented reseller market.
“NEG has a proven track record for organic growth, further potential to grow, and provides the Group with a strong footprint in a market in which we believe we can increase market share further,” he added.
Riley also mentioned that Daisy Group had acquired a 'large market opportunity and the potential to drive new verticals for the Group,' as a result of the acquisition.
This will allow the firm to cross sell its data and mobile services whilst providing its enlarged customer base with a 'full unified business communications package.'
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