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November 28, 2011

UK based cloud firm iomart acquires EQSN

iomart has acquired EQSN's share capital for £2.475m

By CBR Staff Writer

UK based cloud computing and managed hosting company iomart has acquired Scottish infrastructure service provider EQSN to expand its premium customer base.

iomart has acquired EQSN’s share capital for £2.475m with £2.25m payable at completion and a deferred consideration of up to £225k contingent on the successful integration of the operations of ESQN into the Group.

Prior to EQSN, iomart bought Liverpool domain name and hosting company and technical hosting specialist Titan Internet.

EQSN provides managed hosting offerings to a varied range of clients across all sectors of industry including: banking & finance, manufacturing, social networking, local & central government, corporate, and the NHS and iomart specialises in the delivery and management of mission-critical hosting services, enabling customers to reduce the costs, complexity and risks associated with maintaining their own web and online applications.

iomart CEO Angus MacSween said iomart is delighted with this addition to the iomart Group as it continue to drive forward iomart reputation as a provider of secure web hosting and managed services for business. EQSN has an impressive customer base and is a strong strategic and cultural fit for iomart.

"The purchase of EQSN fits perfectly with our stated intention of looking for acquisitions that add depth and value. We are ambitious to keep growing organically and by acquisitions and will continue to look for similar opportunities moving forward," said MacSween.

EQSN CEOAlan Lorimer said EQSN is a successful company in its own right.

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"Becoming part of iomart is a natural next step for us. It means that we can offer our customers even more value through an extended service portfolio and facilities because of iomart’s fully owned, managed and secure datacentre network and its commitment to providing customers with peace of mind," said Lorimer.

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