The trading of Alternative Networks shares on AIM has today been cancelled following the completion of its acquisition by Daisy Group.
Each of the non-executive directors of Alternative Networks has resigned as a director with immediate effect.
Alternative Networks shareholders will receive 335 pence in cash for each share held.
The acquisition values Alternative Networks at £184m.
Daisy Group CEO Neil Muller said: "This announcement builds upon our successful acquisition strategy, to enable our customers to take advantage of digital technology in a converging world of business communications and IT.
"Alternative Networks is one of the largest independent providers of IT managed services and business-to-business communications in the UK and represents a strong and complementary strategic fit with our existing business and operations.
"Having respected Alternative Networks for many years, we look forward to further enhancing our capability and scale across our chosen markets and we believe the combined group will be well positioned to increase its market share further.\"
Alternative Networks plc Executive Chairman James Murray said: "Alternative Networks faces rising demand from customers to procure, manage and support the complete chain of enterprise IT and communication solutions.
"The combination with Daisy will ensure that the company is placed to capitalise on future growth opportunities.
"In particular, the strong complementarity and strategic fit between Daisy and Alternative Networks will ensure our competitiveness and benefit our customers through access to a broader range of unified communications solutions.\"