Lancashire-based Daisy Group has signed a deal to acquire small business specialist, XLN in a deal reportredly worth £210m.
XLN provides business broadband, phones and card payments to more than 100k small businesses.
“I’ve always admired XLN and its philosophy of championing small businesses; it’s a great organisation and shares the same passion for customer service as demonstrated by their Trustpilot score,” said Dave McGinn, CEO of Daisy Communications.
“Daisy’s strategy has always been to acquire successful businesses and we’re delighted with the recent acquisition of XLN. We’re excited to work closely with the XLN team, to capitalise on our shared portfolio and to bring the best propositions and pricing to all of our customers. Ultimately, we want to keep enabling customers, collaboratively, to win in their marketplace.”
The deal is expected to complete next month.
“We have been highly successful in our support of small businesses since our launch in 2002,” added Christian Nellemann, Founder and Executive Chairman of XLN.
“We have continually innovated in both products and services which has enabled the company to continue to grow. Therefore, we felt the time was right to hand the reins over to Daisy, who have a great track record of investing and enhancing the businesses they acquire; the business and our customers are in safe hands.”
Reports have suggested the move could create 200 jobs, but while Chairman, Matthew Riley said their would be new staff, he wouldn’t be drawn on how many:
“With so much investment across the UK to improve the fibre infrastructure, Daisy is now well-positioned to help unlock the enhanced speed, reliability and security that customers want in their offices and shops up and down the country. There is also a vast opportunity in the creation of jobs as we need more staff to help deliver that service.”
