Coreix Managed Servers

iomart 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

AboveNet first quarter 2009 revenue increased 20.5% to US$85.4 million

AboveNet has, announced results for the first quarter ended March 31, 2009. Highlights for the first quarter included Overall revenue increased 20.5% with domestic metro services revenue increasing 48.6% to US$21.4 million from US$14.4 million in the first quarter of 2008 and domestic WAN services revenue increasing 48.1% to US$16.0 million from US$10.8 million in the first quarter of 2008.

“Our first quarter 2009 performance gave us an excellent start to the year. We built on the momentum we gained in 2008 and we are on track for another year of solid growth in revenue and Adjusted EBITDA,” said Bill LaPerch, President and Chief Executive Office.

Source: AboveNet