4. Wavenet
Deals announced in 2024: Daisy Corporate Services (May)
Wavenet only made one acquisition in 2024 – making it a quiet year by its standards… that is, until you consider it was of £208m-revenue rival Daisy Corporate Services.
The duo claim their union will create the “UK’s largest independent IT managed services provider”, with revenues of £500m and 2,000 employees.
The deal will see Wavenet backer Macquarie Capital become the largest shareholder, with Daisy Chairman Matthew Riley and other existing Daisy shareholders retaining a minority stake in the business.
Wavenet CEO Philip Grannum was nominated to lead the enlarged firm in July, with Daisy Corporate Services CEO Neil Thompson exiting the business.
What they said
“Although both the Wavenet and Daisy names are extremely strong in our market, we can confirm that the new business will operate as Wavenet. This will bring our businesses together under one unified brand and ensure a clear distinction between other parts of the Daisy Group, which were not part of this deal,” Wavenet CEO Philip Grannum
Fun fact
Wavenet randomly shares a name with a deep neural network created by Google-owned AI firm DeepMind.
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