Daisy plans data centre expansion
THE DAISY Group is planning to buy two data centres in a £7.5m deal.
It wants to acquire Daisy Data Centre Solutions which was set up earlier in the year to take on assets of collapsed IT group 2e2.
The Nelson-based business communications firm is also conducting a major piece of financial housekeeping by moving £91.5m, mostly from its share premium account, to its profit and loss account.
It wants to move the money because it says it is currently unable to distribute it to shareholders.
London-based Oakley Capital Private Equity bought the data centres, in Gateshead and Reading, out of administration in February for £2.8m, and hired Daisy to manage them.
Oakley was founded by Peter Dubens who also chairs Daisy’s board. Oakley also controls Host Europe which holds 13.6% of the Daisy shares.
The company said it would pay Oakley £1.5m and a further £5.95m to cover existing debt and services. “The estimated fair value of Daisy Data Centre Solution’s net assets as at April 15 is in excess of these amounts,” said Daisy.
It added: “The board consider that the acquisition of Daisy Data Centre Solutions and its data centres, alongside other inverstments the group is making into its data centre offering, will further enhance the group’s data centre capacity and portfolio.”
Law firm Addleshaw Goddard advised the company on the deal and the share premium account proposal. Daisy will seek shareholder approval at a general meeting on May 1.
