Broadband, communications and managed service providers (MSP) Wavenet, which recently announced a major merger with Daisy Corporate Services to create the UK’s “largest independent IT managed service provider” (here), has today revealed that its existing CEO – Philip Grannum – will lead the combined business following completion of the deal this week.
The merger is anticipated to create a £500 million revenue company that supports around 2,000 staff, plus over 22,000 businesses and public sector organisations delivering cloud, cybersecurity and connectivity solution to UK businesses. But as well as confirming who will be the boss of the new company, it’s also today been revealed that the combined business will continue to operate under the Wavenet brand.
In addition, Daisy Chairman, Matthew Riley will join the new board as non-executive director, with Wavenet Chairman Bill Dawson staying on in his current role. But Daisy CEO Neil Thompson will be leaving the business.
Philip Grannum, Wavenet CEO, said:
“I am delighted to be at the helm of the newly-combined business as we enter an exciting new chapter for our people, customers, partners and shareholders. The completion of the deal to combine Wavenet and Daisy Corporate Services marks a significant step forward in creating the UK’s largest independent IT managed services and security provider. 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 communications.”
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.”
The coming weeks and months will see a collaborative and transparent integration process to bring together our operations, systems and processes. Our focus will be on ensuring a smooth transition for our people, customers and partners.”
