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Wavenet and Daisy merge to form £500m IT MSP

Wavenet and Daisy Corporate Services are merging to form an IT MSP with a projected annual revenue of £500m, serving over 22,000 businesses and employing around 2,000 staff. 

Matthew Riley, Chairman of Daisy, will join the new company’s board as a non-executive director.

The merger follows a period of expansion for both firms, including Daisy's recent acquisition of ECSC and Wavenet's six acquisitions since 2021 to bolster its IT and cybersecurity services.

Wavenet chairman Bill Dawson said: “By combining our strengths, resources and expertise, we are poised to create a stronger and more innovative organisation, well positioned to maximise on the rising tide markets of cyber, cloud and intelligent networks."

Riley added: “The newly combined business will be primed for growth through the increased scale of our offering, greater market reach and cross-selling opportunities. We will also strengthen our existing alliances with global tech providers with the new business becoming the number one partner for many.” 

Post-merger, Wavenet’s existing backer, Macquarie Capital Principal Finance, will become the primary shareholder, while Riley and other Daisy shareholders will maintain a minority stake.