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iomart takes over Melbourne Server Hosting in £7 million deal

Cloud computing company iomart Group has taken over Melbourne Server Hosting in a deal worth up to £7 million. Manchester-based Melbourne provides hosting solutions to more than 600 customers and operates its own data centres in Manchester. The deal sees iomart increase its datacentre capacity as well as filling a geographical gap in the iomart datacentre estate. The acquisition of Melbourne will also give iomart a sales platform to address the North of England market. In 2011, Melbourne’s turnover was £2.9 million before tax, depreciation and amortisation of £0.63 million and net assets of £0.26 million. On completion, Melbourne is expected to have a net debt of £0.17 million.
Source: Stockmarketwire

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