The privately held communications services provider is nearing an agreement to acquire ECSC, whose customers include Nationwide and the Wimbledon tennis championships.
With a recommended offer to acquire London-listed ECSC, the founder of one of Britain’s largest privately held IT services groups is close to completing its first cybersecurity acquisition.
Daisy Group, founded by Matt Riley, is close to announcing the acquisition of the AIM-listed company.
ECSC’s clientele consists of Fortune 500 companies such as Nationwide, the Wimbledon tennis championships, and Rio Tinto.
Although it operates in the rapidly expanding field of cybersecurity services, its market capitalization is only £2 million.
Sources indicate that it will be integrated into the Corporate Services division of Daisy once the acquisition is finalized.
ECSC employs sixty cybersecurity specialists and has a total staff of eighty.
After buying XLN Telecom for £210 million last year, Mr. Riley will buy ECSC.
Daisy is second only to BT Group in UK SME telecoms and employs 1,000 people.
Multiple divisions manage mobile, cloud, and other services for business clients.
To improve speed, reliability, and security, Mr. Riley has placed Daisy at the centre of the digital telecommunications shift.
Daisy, whose creator has become one of the wealthiest self-made individuals in the United Kingdom, was once listed on the London Stock Exchange before being taken private again in 2014 with the help of Toscafund Asset Management.
Mr. Riley remains the company’s largest shareholder, supported by Ares and Oakley Capital.
Allenby Capital is believed to be representing ECSC in the transaction.
