Daisy Group buys The Net Crowd

Daisy Group has acquired The Net Crowd for an undisclosed amount, the British internet and telecommunications company announced Friday.

Net Crowd - an IT data specialist - provides services, maintenance and installations in the UK to companies including Microsoft, Cisco, Juniper Networks and HP.

The Berkshire-based company's existing management team will continue to run the business following the acquisition and will report to Daisy's wholesale division.

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The transaction was funded by group's existing borrowing facilities.

Chief Executive Officer of Daisy, Matthew Riley, said Net Crowd was a fast-growing business that would enhance the company's service offering.

"This deal provides a strong foundation for Daisy Group in the growing IP and data market, and is a great strategic fit for the evolution of the business," he said.

"The board believes this acquisition will drive further cross selling opportunities within our enlarged base while also providing Net Crowd's customers with direct access to the group's full portfolio of products and services."

RD