Daisy is to write a £175 million cheque for TalkTalk’s direct B2B business.
TalkTalk announced the proposed sale as it published its financial results.
TalkTalk spent the last year restructuring plans in an attempt to reverse its fortunes and getting rid of its B2B business to Daisy seems a way to downsize.
The firm will hang on to its wholesale and indirect B2B businesses, with Daisy taking over the direct business of 80,000 corporate customers running on TalkTalk’s network.
TalkTalk said this segment of the business equates to less than 20 percent of its overall B2B revenue. The firm’s corporate revenue was £373 million in the reported financial year.
CEO Tristia Harrison said: “When we reset TalkTalk a year ago, we said we would focus on delivering sustained customer growth while radically simplifying the business. One year into the strategy, we are making good progress on both.
“Our customer base grew by 192,000 in FY18, underpinned by our unique propositions and our lowest ever churn. We have also made real progress in simplifying the business to focus on core, fixed connectivity. This will continue into FY19 with the sale of our direct B2B business, as we focus on cementing our position as the market leader in our core B2B markets, partner and wholesale, which represent over 80 percent of our B2B business and continue to grow strongly.”
