Comms provider Daisy to acquire MSP in £165 million deal

Communications provider Daisy is to acquire one of the UK’s largest independent IT managed services businesses in a £165m deal.

Alternative Networks has offices in London, Manchester, Surbiton, Buckinghamshire and Kent, with the board of Lancashire based Daisy stating that the acquired company represents a “strong, complementary fit”.

The deal will value the entire issued and to be issued ordinary share capital of Alternative Networks at approximately £165m and follows Daisy’s recent acquisitions of Damovo and Phoenix IT.

James Murray, chairman of Alternative Networks, commented: “Today, 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.”

Neil Muller, chief executive of Daisy, talked of the company’s “successful acquisition strategy”.

“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 the Daisy Group’s existing business and operations,” he added.

“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.”