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Iomart Group PLC on Wednesday said it is in exclusive talks for the possible acquisition of Kookaburra Topco Limited. Iomart is a cloud computing and IT managed services business based in Glasgow, Scotland. Kookaburra is the holding company of Atech Support Ltd, a Microsoft Solutions Partner for mid-sized enterprises, based in Marlow, England. Iomart said there is no guarantee that the possible acquisition will proceed. However, it said if it were to proceed, it would be financed from the company’s existing cash resources and banking facilities. Iomart noted that the possible acquisition would accelerate its growth strategy to become the leading provider of secure public, private and hybrid cloud services to mid-sized enterprises in the UK. Iomart shares were down 0.9% to 109.00 pence each in London on Wednesday afternoon. Copyright 2024 Alliance News Ltd. All Rights Reserved.
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