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iomart's £20M BT Deal rings up top business award

3rd September 2009 · Press Releases

Data centre operator and managed hosting provider iomart Group plc received the top award for small/mid-sized deal of the year at last night’s Scottish Business Insider Deals and Dealmakers Awards.

The deal, which saw iomart Group dispose of its directory service Ufindus to BT for £20 million, was seen by the judges as a “superbly planned execution” of a plan conceived to allow the Group to focus on its core data centre and hosting business.

The Group, which prior to the deal operated four purpose-built UK data centres, used some of the proceeds of the sale to strengthen its position in the UK managed hosting sector, and purchased fast growing server hosting company RapidSwitch in May, giving it a fifth data centre and a further 1600 business customers.

The Group also reinforced its physical presence in the City of London, where it operates one of its data centres, by adding to its sales and technical capabilities in the capital.

iomart Group’s chief executive Angus MacSween said: “The Ufindus deal worked because it was a result of thorough planning in line with our business strategy.”

“Having decided that the directory business did not fit with the future strategy of the Group we were keen to move as quickly as possible to create a leaner operating structure, and one that would enable the Group to accelerate both organic and acquisitive growth, as we strive to become one of the UK’s foremost hosting companies.”

Finally Angus added: “The most satisfying element of the sale, and one which has been reflected in the judge’s comments, was that this deal was the direct result of a plan which was executed to the letter.”

“It is testament to the efforts of all of those involved that the deal progressed so smoothly from beginning to end, with all parties being delighted with the outcome.”

iomart Group was also named as runner up in the Deal of the Year category, which was won by Clyde Blowers for its $1 billion acquisition of four companies from US giant Textron.

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