Web hosting provider
iomart has received £60 million ($93 million) in funding. The company, which has headquarters in Glasgow, Scotland, United Kingdom, operates a number of hosting brands including Melbourne Hosting, RapidSwitch, Redstation and Easyspace, It operates eight data centers in the United Kingdom of offers a wide range of hosting services. News of the funding comes on the heels of Iomart's recent purchase of public cloud consultancy SystemsUp for £9.5 million ($14.80 million). The company has made 12 acquisitions in the last three years.
The stated aim of the company is to generate £100 million of revenue in the next few years and acquisitions are a key element of the company achieving that aim. Iomart received its investment from the United Kingdom's Bank of Scotland and is designed to enable the company to extend its web hosting and cloud computing services further. This is to include additional acquisitions. The Bank of Scotland also supported Iomart's SystemsUp acquisition.
“Our ambition is to be the market leader in the UK for cloud and managed hosting services including the growing opportunity to provide hybrid cloud," explained Angus MacSween, the Chief Executive of iomart. "We will continue to look for well positioned businesses that can give us the specialist skills and knowledge we need to achieve that, knowing we have the firepower to move quickly when the right opportunity arises.”
“There is a long standing relationship between iomart and Bank of Scotland and we have been pleased to assist the business through a number of acquisitions in recent years, including the recent purchase of SystemsUp," added Andy Seaton, the Relationship Director at Bank of Scotland.
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