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10 Jun 2010
Daisy Group continues to live up to its name as the comms channel’s most aggressive consolidator after snapping up mobile outfit Fone Logistics for £3.6m.
The deal comes hot on the heels of London-listed Daisy securing a new £75m banking facility last week.
Northumberland-based Fone Logistics supplies mobile handsets and airtime to more than 600 dealers and made revenue of £19.6m last year. The deal is designed to strengthen Daisy's ties with O2, Vodafone and Orange.
Further reading
Daisy said it would discontinue certain areas of Fone's business. Revenue from the activities it will continue amounts to £11.8m.
Matthew Riley, chief executive of Daisy, said: “We are delighted to be able to announce this acquisition, which increases our competitive position in the mobile section of the unified communications market.”
Last year Daisy bought a string of big-name firms including Eurotel, AT Communications and Redstone Telecom, and Riley signalled it is not done yet.
“This acquisition is also consistent with the Group's stated ambition to further consolidate the fragmented communications market and enhances our product offering to the UK SME market. We will be continuing to pursue this strategy,” he said.
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