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Daisy founder sells Damovo

Matt Riley and Oakley Capital offload firm to Eli Global

Daisy founder Matt Riley has sold Damovo to investment firm Eli Global, amid rumours that he is preparing to buy Daisy outright.

Reports earlier this year claimed that Daisy was up for sale, but more recently it has been claimed that Riley will instead buyout the firm's other investors.

Riley (pictured), along with private equity partner Oakley Capital, has now sold his stake in Damovo, resulting in CEO Glen Williams and CFO Stuart Hall all leaving the business.

Current MD for DACH and Poland Carl Mühlner will now take the reins as Damovo's new CEO.

Meanwhile, Burkhart Böttcher has been announced as the integrator's new CFO.

Commenting on his promotion, Mühlner said: "In this technology-driven world of change, it is becoming increasingly important to recognise that the collaboration between people is still one of the most critical factors for success.

"I am very happy that Damovo, as a fast-growing company with a strong culture, has found an investor where culture and trusted relationships are also considered to be at the heart of long-term business success: with our customers, our partners, and our people."

With a headcount of 500 staff in 13 countries, Damovo holds top-level badges with four of the channel's leading UCC vendors: Avaya, Cisco, Microsoft and Mitel.

In the last three years the integrator has also been acquisitive across EMEA, taking on the UC business of CTTL in Luxembourg in 2015, Netfarmers of Germany in 2016 and Swiss-based Voice & Data Network AG in 2017.