Virgin Media O2 and Daisy Group set to create IT and comms giant

VIRGIN Media 02 has unveiled plans to form a new communications and IT behemoth, which is anticipated to have a turnover of around £1.4 billion.

- JON ROBINSON

The development involves the merging of Virgin Media O2 and Daisy Group's direct B2B operations.

The newly forged entity will see Virgin Media 02 holding a majority stake of 70%, while the Daisy Group, headquartered in Lanca-shire, will retain the remaining 30%.

Daisy Group’s founder, Matthew Riley, is set to chair the new venture, and Jo Bertram, currently managing director at Virgin Media 02 Business, will take on the role of chief executive.

According to Virgin Media 02's statement, the business aims to cater to the varied communication and IT needs of hundreds of thousands of UK enterprises from small offices and SMEs to large corporations and public sector entities, alongside indirect partners.