Wavenet has announced plans to merge with Daisy Corporate Services.
The newly combined company will become the UK’s largest independent IT managed services provider (MSP) upon regulatory approval.
Indeed, estimates from when the merger was first touted last month suggest that it could be worth £1.2BN.
Moreover, the business will support over 22,000 organizations with cloud communications, cybersecurity, and connectivity solutions.
Celebrating the announcement, Bill Dawson, Chairman of Wavenet, said:
By combining our strengths, resources, and expertise, we are poised to create a stronger and more innovative organisation, well positioned to maximise on the rising tide markets of cyber, cloud, and intelligent networks.
“Daisy is a well-known and well-respected business, and both parties bring unique but complementary strengths to the table.
“Our shared vision is to create a best-in-class business that will help shape the future of next-generation technology.”
While Wavenet may be a more familiar name, Daisy Corporate Services, as Dawson suggests, brings a lot to the table.
After all, it offers a comprehensive suite of digital infrastructure solutions to organizations up and down the UK.
In doing so, Daisy’s services strive to keep people connected at work, at home, and in public spaces.
Those services include everything from managing work mobiles and providing secure internet connections to delivering bespoke UC solutions.
By executing on all this and more, Daisy has risen to the forefront of digital transformation projects across the UK, underpinning critical systems in many sectors – including transportation, emergency services, education, and more.
As such, it not only adds significant weight to Wavenet’s tech portfolio – which covers everything from UCaaS and CCaaS to mobile solutions and IoT – but industry expertise, too.
Excited to pull all this together, Matt Riley, Chairman of Daisy Corporate Services, stated:
“Daisy and Wavenet are a great fit, not just in terms of our current operations but our future aspirations and our culture.
“People are a top priority for both businesses, and we believe that our combined breadth of skill and depth of expertise will be unrivalled in our marketplace.
The newly combined business will be primed for growth through the increased scale of our offering, greater market reach, and cross-selling opportunities.
“We will also strengthen our existing alliances, with global tech providers with the new business becoming the number one partner for many.”
Together, those alliances with global tech providers and tier-one telcos are “unrivalled” – according to Wavenet – and some of those partners quickly congratulated both companies on the merger.
8×8, a prominent worldwide enterprise communications platform provider, is an excellent example.
As Jamie Snaddon, Marketing Director for EMEA at 8×8, told UX Today: “In light of the merger between Wavenet and Daisy, two highly valued partners of 8×8, we extend our sincerest congratulations.
“We are excited about the potential this merger holds and look forward to strengthening our already robust relationships with both companies.
Together, those alliances with global tech providers and tier-one telcos are “unrivalled” – according to Wavenet – and some of those partners quickly congratulated both companies on the merger.
However, for the partnership to attain success from the get-go, there is lots of integration work that needs to happen quickly – especially as both companies haven’t shied away from M&A activities of their own.
For instance, Daisy snapped up ECSC less than a year ago, bolstering its cyber security portfolio. Meanwhile, Wavenet has acquired six businesses since 2021.
While all these acquisitions may have enabled speedy growth, it’s a lot to bring together.
Nonetheless, the newly combined company has strong backing from Wavenet’s existing private equity partner, Macquarie Capital Principal Finance, which becomes the largest shareholder.
Daisy shareholders will retain a minority stake in the business.
For more of the latest M&A activity from across the UC space and beyond, check out our articles:
- Cisco Has Completed Its Splunk Acquisition
- Gamma Bolsters Channel Portfolio With EnableX Acquisition
- Mitel Closes on Unify Acquisition to Bolster UC Offerings
- The 5 Biggest CCaaS Acquisitions of 2023
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