Mergers and Acquistions News
Categories: Software
April 28th 2011, 13:36PM
Company growth has been the driver for an acquisition deal between two digital media companies in the UK.
Internet hosting company Iomart announced this week it was take over Switch Media in a deal worth £1.25 million, in a bid to enhance the expansion and growth of the company.
Around £1.025 million has been offered for the company, with a further £225,000 delivered once certain criteria have been met.
Angus MacSween, chief executive officer of Iomart, said: "The acquisition of Switch Media is a further step in the achievement of Iomart's strategy of building a leading company in the UK. Switch Media is an excellent complementary business to Iomart's Easyspace in the small company segment of the hosting services market."
This is Iomart's first acquisition since last November, when the company took on Titan Internet for around £4 million.
Switch Media is a Liverpool based agency specialising in ecommerce, web design and hosting.
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