Acquisition trail part 2 – IOMart United Front

It’s been a busy start to the festive season with news of the second sizeable acquisition of the month, in which IOMart have acquired United Hosting in a consideration of ‘up to £11m’

from the IOMart news desk:

‘iomart, the cloud computing company, is pleased to announce that it has acquired the entire issued share capital of United Communications Limited (which trades as “United Hosting”) (on a cash-free/debt-free normalised working capital basis) for a total consideration of up to £11.0 million, with £7.5 million settled in cash on completion. A further amount of £3.5 million is contingent on United Hosting achieving agreed EBIT performance targets in years to April 2016 and 2017.’

Well done to Matt, Simon and the team.

Read more on the IOMart corporate pages

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