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.