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Freedom4 Group Plc in acquisition spree
Freedom4 Group Plc, an Uxbridge-based provider of personal wireless broadband services, has agreed to acquire rivals Daisy and Vialtus for a combined value of £123 million.
As part of the acquisition, Freedom4 Group be renamed Daisy Group Plc and Matthew Riley, CEO of Daisy, will be appointed CEO of the enlarged group.
Peter Dubens, non-executive chairman of Freedom4 Group, commented: "We are seeing an opportunity in the UK telecoms services market at the moment, where the fragmented nature and depressed valuations in the sector are creating conditions which are well-suited to consolidation."
Freedom4 Group reported revenues of £22.2 million and a gross profit of £11.7 million.
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