Daisy Group closes in on £215m deal for 4Com

Daisy Group is closing in on a £215 million deal to acquire 4Com, according to a Sky News report.

The report said that Daisy’s chairman, Matthew Riley, has orchestrated the takeover, which is expected to be signed within days.

4Com founder Daron Hutt stands to make a windfall of more than £100 million.

Daisy is understood to have targeted 4Com because of its cloud communication product, HiHi, which has been promoted in a television advertising campaign.

The acquisition will enable Daisy to expand its range of SME products.

4Com itself has grown through a series of acquisitions since it was founded in 1999.

The deal will increase Daisy's SMB customer base to more than 200,000, with revenues from the division of more than £400 million.

Daisy Communications acquired 3,700 customers from 4Com in January 2009. At the time, the deal was worth an estimated £8.4 million in annual revenue through the transfer of 4Com’s lines and calls customers.

Daisy Group and 4Com did not immediately respond to requests for comment.

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