back to article AIM-listed iomart inhales third cloud biz in 4 months

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 …

  1. DigitalDisaster

    Accounts

    Bytemark post full accounts on their website: https://www.bytemark.co.uk/company/accounts/

    Turnover to the end of July 2017 was £3.2m and they had an average of 34 employees during the year.

  2. Anonymous Coward
    Anonymous Coward

    Bye bye Bytemark

    I hope this turns out to be a good thing for the Bytemart staff as Iomart have a very aggressive high pressure internal culture that I cant see fitting with the way things are done in York. Having worked with both organisations at a vendor in a previous life I cant help but feel there will be a few people jumping ship when the takeover happens.

    1. John Brown (no body) Silver badge

      Re: Bye bye Bytemark

      On the other hand, lots of tiny little cloud providers can't compete well against the likes of Azure, Google, AWS etc. so maybe an amalgamation of local, home grown providers into a larger one might be something that can compete, at least in a post-brexit UK market which is likely to still have a GDPR requirement (so long as the owners don't get greedy when Azure/Google/AWS come knocking on the door waving their wallets.)

  3. Anonymous Coward
    Anonymous Coward

    Best hosting company I've ever used

    Real shame to see that they won't be around -- one of the best UK hosting companies with some pretty nifty infrastructure (love the DNS updating via rsync, company-built datacentre, bigv.io) & great staff (phone-answerers are technical and helpful, go above and beyond for customers). I've been putting business their way for years and using them for over a decade. There have been no announcements to customers yet.

    I wonder if the directors are getting out while they can, given the all-encompassing nightmare that will be Brexit.

    So long and thanks for all the hosting.

  4. Anonymous Coward
    Anonymous Coward

    What Bytemark's customers were worth

    From https://www.iomart.com/wp-content/uploads/2019/07/iomart-annual-accounts_final_2019.pdf we see "On 24 August 2018, the Company [ iomart ] acquired the entire share capital of Bytemark on a no debt, no cash, normalised working capital basis. The sale and purchase agreement included an earn-out period to 31 March 2019. During November 2018, whilst not part of the original plan, the previous director shareholders of Bytemark indicated that they wished to consider leaving the business early and a negotiated settlement on the earn-out payment of £0.2m was agreed and paid. This, along with the initial consideration of £4.7m paid at completion, results in a total final consideration of £4.9m. The initial payment was funded from a drawdown from the Company’s revolving credit facility."

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