iomart accelerates managed hosting growth with acquisition of RapidSwitch
Posted by: Coreix in Iomart, tags: 6 Million, Acquisition, dedicated server, dedicated servers, Deloittes, Ebitda, Fastest Growing Technology, Hosting Provider, Hosting Solutions, Iomart, Limited, Managed Hosting, managed servers, Reliable Hosting, servers, Share Capital, Smes, Technology Companyiomart accelerates managed hosting growth with acquisition of RapidSwitch
iomart group has acquired the entire issued share capital of RapidSwitch Limited, a managed hosting provider and currently ranked by Deloittes as the 10th fastest growing technology company in the UK, for £4.3 million cash on completion with a further £0.95 million payable on 31st March 2010.
The company is focussed on delivering highly reliable managed hosting solutions for its clients. RapidSwitch currently manages over 4,000 dedicated servers on behalf of 1,600 clients ranging from SMEs through to large corporate. For the year to March 2008 revenues grew from £1.4 to £2.6 million and EBITDA was £760k. Similar rates of revenue growth have been maintained through to March 09.
Source: iomart
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