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Business ISP and IT provider Gamma Communications has confirmed that Waterland Private Equity Investments is “amongst the parties in discussions” with the telecoms provider regarding a possible £1bn takeover offer for the business. The Giacom Group, which is run by industry entrepreneur Matthew Riley and backed by Inflexion, would then acquire “certain business divisions” of Gamma.
According to the latest data from the London Stock Exchange (LSE), Gamma Communications plc (GAMA.L) currently has a market capitalisation of approximately £864.60 million, although other estimates tend to fluctuate up to around £965 million and competition for the business could push above this level.
Regular readers will recall that the battle for control of Gamma has been going on for months now, with Matthew Riley’s Giacom frequently being linked to a deal as part of different approaches for the provider, such as via Oakley Capital and Providence Equity Partners (here and here). Private equity firm Epiris, which was recently linked to separate talks for TalkTalk’s wholesale business (PXC), is also understood to still be engaged in talks with Gamma.