Daisy set for £5.4m ECSC acquisition

Daisy is closing in on a £5.4m cash deal to acquire Bradford-based ECSC to sharpen its cyber focus and boost the current Cyber & Operational Resilience Division.

Enhancing its cyber capability is a key strategic priority for Daisy as it aims to  grow and meet customer demand. The acquisition will also provide cross-selling opportunities into Daisy's wider Managed Service customer base.

ECSC CEO Matthew Briggs said: "As a board, having carefully considered the pros and cons of being acquired by Daisy, we determined the pros significantly outweigh the cons. Whilst the strategy for ECSC is underway, there are some inevitable headwinds from increased competition, pricing pressures and wage inflation especially in the technology sector.

“Taking these factors into account, together with a strategy which can only be executed over a 12-24 month period due to the nature of 'big ticket' contract negotiations, the opportunity to be acquired by Daisy at a significant share price premium and a 'ready made' cross sell client base makes this acquisition very attractive for ECSC.”

In the year to 31 December 2021, ECSC generated revenue of £6.1m and an adjusted EBITDA of £0.2m.

Neil Thompson, CEO of Daisy (pictured), added: "We are driven by adding ECSC's longstanding and highly complementary Cyber expertise to Daisy's existing Operational Resilience Division, and wider Managed Service business

“The skill sets the ECSC team bring will enhance the IT services we provide to our customers."

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