UK-based cloud iomart (AIM: IOM) has made its second acquisition in 2015 the acquisition of United Communications Limited which trades as "United Hosting. United Hosting was founded in 1998 and provides managed hosting, dedicated servers and hosting services and areas for about 6,500 customers, most of whom are small shared web companies.
iomart has acquired the entire issued share capital for a total consideration of up to £ 11.0 million, with £ 7.5 million paid in cash at the end. Another £ 3.5 million is contingent on United Hosting reach EBIT of agreed performance targets in the years to April 2016 and 2017.
United Hosting is based in Hemel Hempstead, in Hertfordshire , where its main data center facility is located. It also leases data center space in London and Dallas, Texas and has a support function based in India.
This is the second acquisition of the year for iomart. In June, the Group acquired SystemsUp , a computer consulting firm specializing in the design and provision of public cloud hosting solutions.
Matt and Simon Wallis
"consistent with past acquisitions of iomart, United Hosting is a company in full profitable growth which services reflect those we offer, "said Angus MacSween, CEO of iomart ." as such, the company is well within our acquisition criteria and will be a valuable asset for the Group. "
the co-founders of United Hosting, Matt and Simon Wallis brothers, will remain with the company.
"This is a huge opportunity to develop and grow the business," said Matt Wallis, Director of United Hosting . "We are now backed by a leading managed hosting providers and cloud services in the UK, and a company with all the regulatory and financial strength that comes from being listed on the London Stock Exchange . After meeting with Angus and his management team, we believe they can take us to the next level of success. "
Based on Glasgow, Scotland , the iomart partners with leading vendors such as VMware, Amazon, EMC, Microsoft, Asigra, Arbor Dell to offer customers a whole managed so centralized, controlled and completely agnostic hybrid, private and public cloud hosting platforms.
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