iomart (AIM:IOM) – nice little acquisition, but all eyes on tomorrow’s numbers
The cloud hosting company which, according to its web site, sells “peace of mind” has announced a neat little acquisition of a provider of shared hosting services and domains that is immediately earnings enhancing.
The Group has acquired United Communications Limited (trading as “United Hosting”) for a total consideration of up to £11.0m. £7.5m is to be settled in cash on completion and a further amount of £3.5m is contingent on United Hosting achieving agreed EBIT performance targets in years to April 2016 and 2017. United Hosting was founded in 1998 and provides managed, dedicated and shared hosting services and domains to approximately 6,500 customers, the majority of which are small businesses. The company is based in Hemel Hempstead which is where its main data centre facility is located. It also leases data centre…