Iomart buy-and-build bandwagon heads to Scotland


Iomart buy-and-build bandwagon heads to Scotland

Alex Scroxton

contract deal siri stafford.jpgHosting and cloud services provider iomart Group has forked out £2.48m to acquire fellow Glasgow-based infrastructure provider EQSN, and signalled its ambition to continue growing through acquisitions that "add depth and value" to its proposition.

"We are ambitious to keep growing organically and by acquisitions and will continue to look for similar opportunities moving forward," said group CEO Angus McSween.

VMware partner EQSN specialises in vertically-focused managed hosting, bandwidth supply and manages services in both the private and public sectors.

Alan Lorimer, CEO at the 11-year old firm, said that becoming part of iomart was a "natural" next step in the firm's lifecycle.

"We can offer our customers even more value through an extended service portfolio and facilities because of iomart's fully-owned, managed and secure datacentre network," he added.

McSween said: "We are delighted with this addition to the Group as we continue to drive forward our reputation as a leading provider of secure web hosting and managed services.

"EQSN has an impressive customer base and is a strong strategic and cultural fit for us," he added.

The purchase price is made up of a £2.25m cash consideration payable at completion, to be followed by a deferred payment of up to £225,000 based on the successful integration of EQSN.

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