Telecoms provider Daisy Group has completed its 26th deal since it was established in 2001, with the acquisition of Managed Communications for up to £6.3 million.

Nottingham-based Managed Communications specialises in providing internet access to small and medium-sized companies (SMEs) and generated revenue of £3.8 million in 2009.

Matthew Riley, CEO of Daisy, says that the combination of Managed Communications' product offering and Daisy's SME customer base creates cross-selling opportunities.

In the nine months ending September 2009, Daisy reported revenue of £30.9 million and pre-tax losses of £2.1 million.