AIM-listed iomart inhales third cloud biz in 4 months

Exclusive AIM-listed iomart has carved out the umpteenth notch on its bedpost, so to speak, buying UK managed hosting and cloud minnow Bytemark.

North Yorkshire-based Bytemark is the third slurp in four months for iomart following deals with cloud services outfits Dediserve, Tier 9 Ltd, which trades as Simply Servers.

The latest purchase was confirmed by a spokeswoman at Glasgow-headquartered iomart: “This is another significant acquisition for iomart of a high quality cloud business that can add real value to the group and enhance our delivery of secure managed cloud computing services to UK business,” a spokeswoman told The Register.

We asked about the buy price and the rationale for making the latest addition but were told that no further statements will be made.

Founded in 2002, Bytemark sells server hosting and data centre services, and launched a public cloud designed in-house using open source wares a decade later.

It filed abbreviated accounts for the year ended 31 July, indicating a turnover less than £6.5m or fewer than 50 employees.

As for iomart, which has made more than 20 buys since it was incorporated in 1998, profit and loss accounts for the 12 months ended 31 March 2018 showed turnover grew 9 per cent year-on-year to £97.7m and net profit was up to £12.28m from £12.08m. ®