Iomart Group purchases Backup Technology in £23m deal

Glasgow based cloud computing specialists Iomart Group have announced their acquisition of Backup Technology, a Leeds based data recovery provider, for £23m.

The purchase brings a host of new clients to Iomart including Siemens, British Red Cross, Lloyds Register, Suzuki and Pernod Ricard as well as Liverpool and Everton football clubs.

Angus MacSween, CEO of iomart Group plc, said: “We are delighted to welcome BTL to the Group as they have achieved ground breaking progress in the delivery of cloud backup and disaster recovery and have been on our radar for some time. BTL gives Iomart a solid and well-established platform to grow further from, with a very good enterprise customer base and little crossover from the existing Group base. It’s a very good strategic fit, complementing our portfolio of existing products.”

Simon Chappell, the founder and owner of BTL who is leaving to pursue new opportunities, said: “This is a really exciting moment for BTL. We very much admire what Angus and his team have done in establishing iomart as the leading player in the market for cloud services in the UK and can see that our backup expertise and services are a great fit iomart will be a great home for BTL.”

The deal marks Iomart's single largest acquisition and is composed of £19.5m in cash and a further £3.5m in shares.

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