Daisy acquires XLN Telecom for £210m

Nelson-based Daisy Group has acquired small business telecoms firm XLN in a deal worth around £210m.

XLN provides business broadband, phones and card payments to more than 100,000 small businesses generating an income of £53m last year.

The acquisition sees the small business division of Daisy grow to more than 200,000 customers and pushes revenues beyond £200m.

Christian Nellemann, founder and executive chair of XLN, said: “We have been highly successful in our support of small businesses since our launch in 2002. 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.”

Matthew Riley, Daisy Group chairman, said: "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."

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