Daisy Group to buy assets from 2e2

Sat, 16 Feb 2013 | BUSINESS SALE

Telecommunications firm Daisy Group is set to take control of the data centre operations of defunct company 2e2.

The deal will see special purpose vehicle Daisy Data Centre Solutions, which was created by Peter Dubens, owner of Oakley Capital and chairman of the Daisy Group, buy the business and its assets in order to boost Daisy Group's own operations.

It is thought that the server farms in Gateshead and Reading are the most attractive assets of the business purchase. Adding these facilities to the firm's existing data centres in Manchester, Southampton and London will double the total available power that the firm has to hand from two megawatts to four.

Matthew Riley, chief executive of the Daisy Group, commented on the deal: “Through the additional data centre facilities the group is in a position to significantly expand its data hosting footprint.”

FTI Consulting was appointed as administrator to 2e2 on 28 January after efforts to refinance the IT services company failed. The second hope for the firm was that a suitable buyer would be found, but after looking at the books, which revealed significant losses, the would-be buyers, which included Daisy Group, Computacenter and Logicalis parent Datatec, all walked away from a deal.

The administrators will now no doubt be pleased that they can at least get some funds back from 2e2's assets after FTI was forced to ask 2e2 data centre services customers to collectively stump up £960,000 to keep things since the administrators were running out of funds to do so themselves.

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