A follow-up to Daisy's intention to buy Alternative Networks Plc. On the 23rd of December 2016 Daisy announced the deal has now completed. The acquisition values Alternative Networks plc at £184m.
Daisy's acquisition strategy continues with the Alt Net acquisition being Daisy's largest to date. Only 16 months following Daisy's takeover of Phoenix IT for £135 million.
Daisy's plan to become a £1 billion revenue ICT company is no secret and this certainly helps them get a big step closer to their target.
Daisy Group CEO Neil Muller said:
“This announcement builds upon our successful acquisition strategy, to enable our customers to take advantage of digital technology in a converging world of business communications and IT.
“Alternative Networks is one of the largest independent providers of IT managed services and business-to-business communications in the UK and represents a strong and complementary strategic fit with our existing business and operations.
“Having respected Alternative Networks for many years, we look forward to further enhancing our capability and scale across our chosen markets and we believe the combined group will be well positioned to increase its market share further and to continue to be the provider of choice for its customers and partners.”
Alternative Networks plc Executive Chairman James Murray said:
“Alternative Networks faces rising demand from customers to procure, manage and support the complete chain of enterprise IT and communication solutions. The combination with Daisy will ensure that the company is best placed to capitalise on future growth opportunities and remain the provider of choice for our customers. In particular, the strong complementarity and strategic fit between Daisy and Alternative Networks will ensure our competitiveness and benefit our customers through access to a broader range of unified communications solutions.”
