Iomart, a Glasgow-based cloud computing company, has acquired United Communications for £11 million. Iomart will pay £7.5m in cash on completion, with a further £3.5m depending on performance targets being reached over the next 18 months. Its turnover in the 12 months to 30 April was £2.4m, with profits before tax and interest of £1.3m.
This is Iomart’s second acquisition of the year. In June it bought SystemsUp, an IT consultancy specialising in the design and delivery of public cloud solutions.
United Communications currently serves approximately 6,500 customers, the majority of which are small businesses. The company is based in Hemel Hempstead in Hertfordshire, where its main data centre facility is located.
Iomart chief executive Angus MacSween said: “In line with previous acquisitions made by Iomart, United Hosting is a profitable, growing business whose services reflect those we offer. As such, the business fits well within our acquisition criteria and will be a valuable addition to the group.”