Daisy buys out Redstone

Daisy buys out Redstone

August 21, 2017

Telecommunications provider Daisy Group announced that it has purchased Redstone Plc and will be expanding its assets in Lancashire.

The acquisition was completed at a price tag of £17 million.

According to the details of the deal, Daisy Group will not only acquire Redstone, but also its subsidiary, Symphony Holdings, which specialises in mobile distribution and provider services.

Chairman Peter Dubens of Daisy Group said that the company is excited to expand within the UK and that the deal should close by August 28th.

Dubens also stated that the purchase of Redstone is just one more step towards completing the company’s strategy to be one of the largest SME UK providers as well as a mid-range market choice in the telecommunications market.

Daisy Group also purchased AT Communications and Eurotel for £20.5m at the beginning of August.

Daisy is said to be considering other companies for purchase but no details of which companies they may purchase have been leaked.

Also expanding in the telecommunications market is the mobile technology provider 2ergo which moved to MediaCity in Salford Quay’s after showing a 628% increase in just under five years.

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