iomart Acquires Cloud Backup Provider Backup Technology for $37M
October 3rd, 2013 By: Nicole Henderson
iomart Group announced on Tuesday that it has acquired cloud backup and disaster recovery services provider Backup Technology for $37 million. Established in 2005 in Leeds, BTL has around 200 enterprise clients including Siemens and British Red Cross.
The acquisition of BTL comes less than a month after iomart acquired dedicated server and managed services provider Redstation for $12.4 million.
“We are delighted to welcome BTL to the Group as they have achieved ground breaking progress in the delivery of cloud backup and disaster recovery and have been on our radar for some time,” Angus MacSween, CEO of iomart Group said. “BTL gives iomart a solid and well-established platform to grow further from, with a very good enterprise customer base and little crossover from the existing Group base. It’s a very good strategic fit, complementing our portfolio of existing products.”
Cloud backup has been adopted by 30 percent of IT professionals in EMEA and North America, according to a recent Spiceworks survey. An additional 13 percent plan to implement cloud backup within the next six months, indicated a strong growth in this cloud segment over the short term.
“This is a really exciting moment for BTL,” Simon Chappell, founder and owner of BTL said. “We very much admire what Angus and his team have done in establishing iomart as the leading player in the market for cloud services in the UK and can see that our backup expertise and services are a great fit. iomart will be a great home for BTL.”
Chappell is leaving BTL to pursue other opportunities, but BTL’s team of 16 people will stay on at iomart.
BTL was advised by Livingstone Partners, and Pinsent Masons. iomart was advised by Shepherd and Wedderburn.
Article originally published at: http://www.thewhir.com/web-hosting-news/iomart-acquires-cloud-backup-provider-backup-technology-for-37m