Make your money go further for just 25p per day

iomart Group plc (AIM: IOM) – another exciting acquisition

08/06/2015 · iomart Group PLC (IOM) 

iomart, the cloud computing company has today announced that it has acquired the entire issued share capital of SystemsUp, a London consultancy specialising in the delivery of OT transformation using public cloud, for an initial cash consideration of £9.0m. An interim payment of £0.5m in respect of the cash-free, debt-free normalised working capital adjustment has also been paid and a further contingent consideration is due in respect of revenues, for the year to March 2016 and estimated to be in the region of £1.0m to £3.5m.

iomart Group is one of the UK’s leading providers of cloud computing services. From a single server through to private cloud networks, iomart specialises in the delivery and management of mission-critical hosting services, enabling customers to reduce the costs, complexity and risks associated with maintaining their own cloud applications.

Today’s acquisition brings exciting technology and customer additions to the Group’s portfolio. SystemsUp boasts a range of expertise in the design and delivery of public…

Sign up and read the full article

Register to continue reading our content.

Get FREE access now

Already a member? Login


Previous article Next article

Have your say

Log in or register to view or add comments.

DON'T MISS OUT!

Get top investment ideas to help safeguard and grow your wealth.

Invaluable insight from the exciting world of smaller companies.

REGISTER FREE

DON'T MISS OUT ON OUR PREMIUM CONTENT

Become a champion investor for just £90 a year. Benefit from our high performing portfolios:

START FREE TRIAL

More on iomart Group PLC

​Evolving strategies and questionable adjustments

07/04/2021 · Company Insights

Companies need to adapt and for several small companies covered here that appears to be essential…


Growth, profits or cash flow, take your pick

01/12/2020 · Company Insights

An online fashion brand covered here is making plenty of sales, but profits and cash still remain…


More Company Insights

Bonkers Bargains: up strongly but still a great recovery play

22/04/2021 · Time Finance

Explosive growth from Electric Vehicle charging