“We began discussions with Daisy at the end of 2009 and this is clearly a strategic acquisition for them. Daisy, through its acquisition strategy, has undertaken a lot of consolidation in the fixed line market and now, with the purchase of murphx, has signalled its intentions to focus on data services growth.
The acquisition opens up a lot of new opportunities for murphx and its partners. Our business had grown incredibly well organically and we had reached a cross roads where we either raised capital to fund our own market consolidation efforts or looked at a strategic exit that would allow us to fulfil our objectives and benefit from future growth.
Our partners will benefit from murphx’s buying power and the scale and resilience of its network. The backing of a sizeable group allows us to continue our investment in the next generation of data services based on 21st century access and core networks, and helps us establish cloud-based services, the single fastest-growing sector of the ICT market.
Through our relationship with Daisy, murphx will be the biggest wholesale aggregator in the UK channel, with the capital to continue to invest in innovative market leading services that allow our partners to distinguish their proposition.
With regard to the future, we have a great management team in place and murphx continues to operate as a business division with its own P&L. Since we won the wholesale broadband supply business at Daisy last year we have been consolidating those customers from a number of different suppliers and that project will now broaden as a Daisy owned subsidiary.
Moving forward we now have a very solid foundation on which to build further data business through acquisition as well as look to significant organic opportunities in an industry that still offers massive scope for growth. We have considerable financial backing and the desire and objective to be the leading data solutions group in the UK today.”
Chris Jagusz, director of Daisy’s data solutions business, commented, “I’m really pleased that we’ve been able to add murphx to the Daisy Group – The team have tremendous credibility in the channel. murphx’s partners will keep on getting the great service they’ve come to expect, and have the backing to move to next-generation and cloud products. Meanwhile, Daisy benefits from having a centre of excellence for broadband services.”