Daisy Group offers to gobble Phoenix IT Group for £133m

Acquisitive B2B tech and comms player Daisy Group has bid 160 pence per share for LSE-listed Phoenix IT Group valuing the services operation at around £133m. Talk of a deal has rumbled along for more than a year but with Phoenix in the middle of a three-year turnaround plan under the latest CEO and no longer reporting steep …

[Aristotles slow and dimwitted horse]

Hopefully as part of the acquisition...

They'll sort out Phoenix's shambolic SCM and fulfillment processes.

I won't hold my breath though.

[Anonymous Coward]

It can't get any worse right?

I mean, Daisy are shit hot....yeah but no.

[Velv]

Call me cynical, but I foresee the next e2e type business failure on the horizon. e2e got very acquisitive until the customers dried up...

[Dapprman]

Beat me to it

Seem to remember Daisy bought some of the 2E2 parts after that failed, and those had not been profitable.

[Anonymous Coward]

Emperors new clothes

At the rate they are dumping staff it looks like they are doing the equivalent of looking down the back of the corporate sofa for loose change!

New 'rookie' CEO looks like he wants to be taken seriously as the man to sweep in new changes and ideas like so many others at so many other companies. Just hope he doesn't make the easy mistake of removing the core capability as part of an 'efficiency drive'.

Purchase of Phoenix is interesting, double the size of the company in both turnover and headcount, twice the size, double the fun.