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.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
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
-
Reeves warned against property tax shake-up – 3 ways it could backfire on first-time buyersRachel Reeves reportedly has her eye on high-end property taxes in the upcoming Budget, but there are concerns a shake-up could unintentionally hamper those trying to get on the housing ladder
-
Average Brits want to retire five years before they can – who has the widest retirement gap?Brits are expecting to work for longer than ever but there are big disparities in the number of extra working years predicted. A small tweak could help close the gap
