UK-based cloud iomart (AIM: IOM) has acquired the entire issued share capital of SystemsUp, a consulting company IT specializes in the design and delivery of public cloud hosting solutions, for total consideration of approximately £ 12.5 million.
SystemsUp is a London consulting firm specializing in the delivery of IT transformation using the public cloud. It offers a range of expertise in the design and delivery of public cloud hosting solutions and is a G-Cloud partner to Google, an authorized partner government to Amazon Web Services (AWS) and Microsoft Gold Partner.
£ 9.0m was paid in cash as an initial consideration. Another contingent consideration is payable for the delivery of products, on an adjusted basis for the year to March 2016. It was estimated that the quota payment could be in the £ 1.0m to £ 3.5m area.
during the 12 months to 31st March 2015, SystemsUp turnover of £ 4 million with profit before taxation of £ 1.5m, double that of 2014.
public cloud strategy
"the market for cloud computing becomes incredibly complex and demand for public cloud services is growing faster," said Angus MacSween, CEO of iomart . "With the acquisition of SystemsUp, iomart has expanded its ability to engage at a strategic level and act as a trusted advisor on cloud strategy for organizations that want to create the right mix of cloud services, both public and private, to meet their needs. "
Although now part of iomart group of companies, SystemsUp retain its impartial role, agnostic, expert advice on the public cloud strategy.
"We have already built a significant reputation and expertise to help organizations use public cloud to reduce costs and improve efficiency," said Peter Burgess, CEO SystemsUp . "As part of iomart we can leverage their award-winning Managed Services offering to deepen and broaden our range of tools to offer a broader set of cloud computing services, along with continuing to provide strategic advice and deployment large, complex projects of public clouds and private sector. "
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