The dark satanic rumour mill has manufactured a hell on earth yarn that Daisy is gearing up to auction itself for up to £1.5 billion.
The rumour was started by Sky News which claimed the IT, telecoms and cloud provider is poised to appoint investment bankers in the “next few weeks” to handle a sale process that will start in the first half of 2018.
Daisy has grown rapidly from a sub-£100 million SMB telecoms supplier into a £700 million outfit. It did this though acquisitions of Damovo, Phoenix IT and Alternative Networks.
Daisy Group is not saying anything about the sale. The official comment is that Daisy is a privately owned business and its management team’s focus is solely on continuing to build on its position as the UK’s largest independent provider of business communications, IT and cloud services.
However ownership has been an issue for the outfit since the firm was taken private by its founder Matthew Riley at the start of 2015.
The last of the remaining bidders for the broke 2e2 outfit have walked away saying that they are no longer interested in buying any of the company
The IT services group filing for administration and there was some optimism that the Newbury-based group would be sold to either Daisy or Computacenter.
In a statement, FTI, 2e2’s administrators said they had spoken to a number of parties who were interested in acquiring all or parts of the [2e2] business as a going concern.
But FTI said that it could not get an acceptable and deliverable offer to sell the business as a going concern and there is no further funding which can be made available.
Contractors and suppliers will not get paid and 2e2’s data centre clients appear to have been asked to stump up with more dosh to keep the servers switched on. According to Contractor, a letter had been sent out to clients telling them that not paying would result in FTI being “unable to maintain [2e2’s] Data Centre Infrastructure” and the whole lot will be switched off before any customers can get their data back.
However in its letter, FTI hinted that it will be impossible for customers to get their data back in a hurry as it had been hit by a number of requests from customers seeking to gain access to their data immediately. It thinks that the levels of data stored at the company will take up to 16 weeks to get out of the system, and if customers don’t pay up to keep the servers open they will lose everything.