Daisy buys SpiriTel for £27.3m

Telecoms firm Daisy yesterday said it will buy rival SpiriTel in a £27.3m deal. In addition, Daisy will take on £6.1m of SpiriTel’s existing bank debt which, Daisy will refinance from its existing banking facilities. SpiriTel, which has been advised by FinnCap, unanimously recommended the offer to shareholders. Matthew Riley, chief executive of Daisy, said: “We believe this acquisition gives us a strong foothold in the mid-market, strengthening our sales team and engineering force, while significantly enhancing both our product portfolio and customer base.”