iomart today completed successfully the second of two separate transactions in a week being the acquisitions of the businesses of Actis Technology and OnCue Telecommunications Limited. Together they strengthen iomart’s position in the key market areas of messaging and business broadband.
iomart has purchased for £200,000 the ADSL customer base of OnCue Telecommunications Limited. which went into liquidation on 28 June. This will add revenues of approximately £1 million per annum from some 600 ADSL installed connections with a satisfactory margin. The Directors believe that this places iomart firmly in the 2nd position for ADSL installations in the UK after BT Openworld.
CEO Angus MacSween commented: "This is an excellent piece of business for iomart; it is a good price and keeps us at the forefront of ADSL delivery in the UK. However the demise of OnCue highlights the ongoing difficulties of rolling out broadband Britain under the current regulatory and competitive environment."
Earlier in the week iomart completed the acquisition of the assets of Actis Technology and its proprietary Netintelligence product from the liquidator at an undisclosed price. Netintelligence is a leading edge product that manages intelligently an enterprise’s online activity and fits strategically into iomart’s messaging product portfolio alongside Thinkmail, iomart’s managed e-messaging solution. Actis was valued at £16 million in early 2000.
Chairman Nick Kuenssberg said: "These two moves underline iomart’s determination to focus on the revised core strategy announced in May and demonstrate the value of being able to act proactively and swiftly to enhance our product range."
* iomart Group plc is an AIM listed, UK-based internet solutions company. A major player in the UK broadband and messaging market, the company offers a comprehensive suite of internet and e-commerce business solutions that span large scale e-mail hosting, xDSL broadband, web security products, web hosting, co-location, web site building, Virtual Internet Service Provider services, bandwidth on demand, internet access and domain name registration.
*iomart is a fully licensed telecommunications company with its own directly owned and managed network infrastructure, which has earned Cisco-Powered Network Status, a standard attained by only the top one per cent of service providers worldwide.Subscribe to RSS Feed