Daisy swoops for £10.45m BNS

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Daisy Communications is poised to acquire Northumberland service provider and reseller BNS Telecom Group for £10.45 million in cash.

The deal, which BNS directors have recommended shareholders to accept after delisting from the AIM market in June last year, follows completion of the £6.3 million purchase of data networks provider Managed Communications this month month.

Daisy Communications chief executive Matthew Riley told the stock exchange: “This offer makes great sense for Daisy, given the scale and position of BNS within the UK SME market.

“This acquisition will strengthen our position in the reseller market and is another step towards the Daisy Group consolidating this fragmented sector following the integration of our previous acquisitions.”

In quick succession Daisy has acquired Managed Communications, Redstone Telecom, AT Communications and Eurotel for a combined total of £43.3 million. The Daisy brand was part of a £81 million reverse takeover by Freedom4 Group in July last year.

BNS has been operating for 10 years and employs 250 people at its Northumberland base. It sells fixed line, mobile, broadband, call recording and VoIP. It claims its VoIP traffic is 1.5 million calls per month.

In its last financial results, for 2007/8, group revenue was £32.48 million. Customer numbers had increased by 15 per cent, with more than half signed to five-seven year contracts. But the recession saw a lack of liquidity in its shares and it delisted from the AIM market in June 2009.

 

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