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itX Buys Web Hosting Provider to Grow its Services Capabilities |
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July 7, 2007 – (HOSTSEARCH.COM) – Information technology consulting and IT solutions provider itX, an ASX-listed company, has bought a web hosting provider to grow its services capabilities, it was announced recently. The company has bought ICO International (http://www.ico.com.au/) for an undisclosed sum funded from “existing cash reserves”. The move is in line with itX’s policy of pursuing acquisitions with a “strong focus on distribution”.
ICO International provides hosting services to around customers and is a certified Microsoft gold partner. The company has a purpose-built, 700sqm datacenter in North Ryde, New South Wales, Australia. "We are trying to find revenue streams which are non-competing with our distribution business," explained Mr. Laurie Sellers, ASX-listed distributor's Managing Director. "ICO isn't product sales as such, but through this we can develop new opportunities."
ICO will be run as a “standalone business” in the interim and the company’s six staff will be retained. "ICO is a successful company but business was exploding faster than the management could cope with," added Mr. Sellers. "They needed the bandwidth and resources to manage that and felt it was better to be acquired. We will be in a much stronger position to offer technical advice and guidance on those products we sell that may be on a Microsoft platform. Hopefully, existing ICO customers may be interested in other things we can offer, such as remote managed services." |
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