iomart finds Melbourne in Manchester

Acquisitive managed hosting provider, iomart, has added another string to its bow, buying Manchester-based peer, Melbourne, for (max.) £7m cash. This represents about 11x EBITDA and 2.4x sales based on Melbourne’s 2011 performance. iomart also revealed that it had picked up Camberley-based web hosting firm, Skymarket, for £1.24m cash, just over 1x revenues. There must be a gazillion of these tiny hosting companies in the UK just waiting for someone like iomart  – or 6 Degrees,  et al – to come along!