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Daisy buys £3.6m Fone Logistics
2010-06-18
United Kingdom : telecom service provider Daisy Group has acquired the entire issued share capital of Northumberland-based distributor Fone Logistics for a cash consideration of €4.1 million. Daisy said Fone Logistics will be managed by Anglia Telecom Centres (formerly Redstone Distribution) going forward. Daisy said it has identified certain areas of the business which are to be discontinued or hived out at completion. Former Fone Logistics MD Ian Gillespie and financial director Michael Fitzpatrick will head up dealership Activ Telecom’s 3 business as, prior to the sale, dealer Northumberland-based Activ Telecom bought the 3 business from Fone Logistics for an undisclosed sum. Daisy-owned Anglia will oversee the rest of Fone Logistics’ business and connections, but dealers connecting 3 will work with Activ Telecom (source : Mobile News United Kingdom).