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
-
How to shield your money as Reeves refuses to rule out income tax hikes and warns of ‘necessary choices’Chancellor Rachel Reeves appeared to lay the groundwork for higher taxes in the Autumn Budget on Tuesday morning and refused to stand by her manifesto pledge not to increase income tax.
-
UK state pension is least generous in the G7 – how do other rich countries compare?British retirees get substantially less in state pension than in other wealthy nations, and for fewer years, but the balance is a lower tax burden on working age people
