Virgin Media O2, Daisy Group Confirm Merger Into £3Bn Telecoms Titan to ‘Revolutionise IT Landscape’
Virgin Media O2 and Daisy Group have announced a merger of the two businesses to form a B2B UK communications and IT colossus.
Virgin Media O2 and Daisy Group are joining forces to consolidate their business communications and IT services, establishing a new telecoms giant valued between £2.5 and £3 billion, inclusive of debt. Under the terms of the agreement, Virgin Media O2 will hold a 70 percent stake in the newly formed venture, with Daisy Group retaining the remaining 30 percent. With an estimated customer base of around 700,000, the merged entity will significantly expand its footprint in the SME sector, in particular.
The new venture will be led by key figures from both parent companies: Daisy Group founder Matthew Riley is set to serve as Chairman, while Jo Bertram, Managing Director of Virgin Media O2 Business, will take on the role of CEO.
Riley commented:
Our new entity, which brings together two highly successful companies, will deliver a comprehensive solution for the fast-changing needs of UK organisations supported by specialist teams that have a relentless focus on customer service. It will be driven by the entrepreneurial spirit for which we are known and will catalyse the next phase of our ambitious growth plans.”
The merger brings together two major players in the UK market, resulting in a combined entity generating approximately £1.4 billion in annual revenue. The combined business is positioned to become a formidable competitor to BT Group, the UK’s dominant provider of IT and telecoms services for SMEs.
Microsoft Reportedly Set to Avoid EU Fine in Latest Antitrust Saga Twist, Cuts Over 6,000 Jobs as AI Push Continues
Microsoft is reportedly set to avoid an EU fine, which would signal a dramatic conclusion to the Teams/Office bundling antitrust saga that’s been ongoing since the pandemic’s peak.
Reuters, which cited three sources close to the story, said that EU regulators are likely to accept Microsoft’s latest offer to change the pricing of its Office and Teams products. Microsoft is attempting to satisfy the European Commission’s probe and avoid a potentially hefty fine for Microsoft’s allegedly anticompetitive practices in bundling Teams and Office together.
The issue dates back to when Microsoft first integrated Teams into Office 365 in 2017, eventually replacing Skype for Business and leading Slack to file a complaint in 2020. At the heart of the issue was whether the lack of a viable, unbundled alternative had unfairly limited enterprise customers’ ability to choose competing communications platforms.
Reuters says that Microsoft has also offered to improve interoperability, aiming to lower the technical barriers that hinder rivals from competing effectively in the collaboration space.
Meanwhile, the tech giant has announced plans to lay off over 6,000 employees, approximately three percent of its global workforce.
The tech giant’s home state of Washington will be hardest hit, after the company informed officials it was cutting 1,985 workers tied to its Redmond headquarters. The move marks the firm’s largest round of job cuts since 2023, when it laid off 10,000 workers, impacting employees across multiple divisions.
- Read more about Microsoft likely avoiding an EU fine
- Read more about Microsoft’s latest round of job cuts
Cisco’s Earnings: Webex and CPaaS Up 24% – What’s Contributed to the Successful Quarter?
Cisco’s Q3 earnings sent a strong signal to the market: the company is operating at full strength, and its unified communications arm, Webex, is playing a key role in that momentum.
Earnings for Cisco’s collaboration and networking segments climbed 24 percent year-over-year, underscoring the return on its sustained focus on innovation, AI integration, and customer-first strategies. So, what’s fueling this growth? A series of strategic moves, from product enhancements to expanded partnerships, are likely helping Webex attract new enterprise customers.
“Q3 was another strong quarter for Cisco with revenue, margins, and earnings per share all above the high end of our guidance ranges,” said Cisco CEO Chuck Robbins. “We also generated solid growth in annualized recurring revenue, remaining performance obligations, and subscription revenue, which all support our future performance.”
Robbins added that Cisco’s CFO, Scott Herren, will retire on July 26 after joining in 2020, to be succeeded by Mark Patterson, Cisco’s Chief Strategy Officer and a 20+ year company veteran.
