iomart breaks £100m barrier and expands presence in North
Managed cloud services provider iomart has broken through the £100m revenue barrier and expanded its presence in the North.
The PLC announced revenue growth of 6% to £103.7m for the year ending 31st March 2019, meaning it has doubled in size in five years. Adjusted EBITDA grew by 6% to £42.2m (2018: £39.9m).
iomart also confirmed it had made two acquisitions in the region during the year. LDeX provides colocation, managed networks and media streaming solutions from data centres in Manchester and London, and Bytemark provides managed hosting, including a managed kubernetes service, from facilities in York.
Back in 2017, iomart bought Manchester-based Sonassi, which offers high performance Magento hosting, and six years ago acquired another Manchester hosting company, Melbourne Server Hosting, and Leeds-based Backup Technology.
Angus MacSween, CEO of iomart, said: “Manchester is a “hot spot” for the IT industry in the UK and our investment plans will see a first class facility and hosting environment established.
"Breaking through the £100m revenue barrier is a landmark for the business and a validation of the strategy we established over ten years ago. We continue to invest in our cloud product offering, skills and organisational platform to ensure we are positioned to capitalise on this opportunity.”