The UK hosting giant Iomart has bought out Redstation for £6.6m. Find out more about the sale and what it means for South Yorkshire IT.
Glasgow cloud computing company Iomart has bought Hampshire-based rival Redstation for £6.6m in cash and shares.A further £1.5m is payable depending on Redstation achieving profit targets. Redstation manages thousands of servers for clients in more than 50 countries and had a turnover of £5.2m last year. Chief executive of Iomart Angus MacSween said: "We are delighted to complement our continued organic growth through the acquisition of Redstation."
He added: "The addition of Redstation will consolidate our position as the leading player in the dedicated server market in the UK.
"Redstation's customers deliver a wide variety of cloud applications and services from the physical servers they buy from them, further underpinning iomart's strategic goal of providing the 'picks and shovels' of the cloud environment through the provision of the complex infrastructure required."
Iomart has made a number of acquisitions over the past few years and has previously said that cloud computing was in a period of consolidation.
Source: BBC News
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