iomart, a Glasgow-based cloud computing firm, is currently engaged in acquisition discussions with Atech.
- The potential acquisition, directed at Atech, a digital company specialising in multi-platform solutions and managed security services, has caught the industry’s attention.
- Official statements indicate that the potential acquisition would be funded through iomart’s available cash resources and banking facilities.
- If successful, this acquisition could strategically position iomart as a leading provider of cloud services to mid-sized enterprises in the UK.
- The acquisition, if completed, would be classified as a substantial transaction according to AIM Rules.
iomart, the Glasgow-based enterprise known for its role in cloud computing, has officially confirmed its intent to potentially acquire Atech, a company renowned for providing digital transformation and security services. This confirmation follows substantial speculation from the press regarding a potential deal. The company has declared its engagement in exclusive negotiations with Kookaburra Topco, the holding entity of Atech Support Limited.
Atech specialises in offering multi-platform solutions, cloud digital transformation, and managed security services, typically catering to mid-sized businesses. The significance of this possible acquisition is underscored by iomart’s strategic focus on expanding its service array and market presence, aiming to solidify its position as a dominant name in secure cloud services across the United Kingdom.
iomart has assured stakeholders that any acquisition proceedings would be financed through its existing cash reserves and banking facilities, highlighting a fiscally responsible approach to this major strategic move. The classification of this acquisition as a “Substantial Transaction” under the AIM Rules signifies its potential impact and scale, both financially and operationally.
The directive from iomart’s Directors is clear; they foresee the acquisition substantially advancing the company’s growth strategy. By incorporating Atech’s technological expertise, iomart expects to enhance its provision of secure public, private, and hybrid cloud services to its target demographic. This move is in alignment with the broader industry trend towards comprehensive digital solutions for cloud services.
Further announcements regarding this development will be made as deemed appropriate by iomart, marking a significant phase in its strategic planning.
