Feeds

Cloud silo and services firm UKFast hires personal shopper

M&A specialist to help it score after 'missing out on past targets'

Build a business case: developing custom apps

Cloud silo and server hosting service provider UKFast, which owns three data centres across the UK and claims Coutts private bank and NHS trusts among its customers, has brought on board an M&A specialist to help it embark on a UK acquisition spree.

UKFast claims it had previously lost acquisition targets to rivals because it lacked the requisite expertise.

Catherine Houghton has been hired by the Manchester-based outfit to steer a buy-and-build strategy, having racked up 15 years of experience at PwC and Lloyds Development Capital.

Lawrence Jones, CEO at UKFast, told us his latest staffer will recruit and lead an M&A team to "look under the bonnet of business targets, acquire them and manage the fund".

Jones added: "We have seen companies in the past that we would have loved to acquire but they were snapped up by competitors. Now we have Catherine who will be dedicated to looking into acquiring firms… she has the very particular skill set and experience."

Jones said he has £3m cash in the bank and a relationship with Barclay Capital that he claimed gives UKFast access to £20m worth of funding.

The first deal likely to be concluded is for a 1,000-strong customer list, adding to the 4,500 which UK Fast claims to have on board - including Coutts, NHS Trusts and Kelloggs.

The Manchester-based firm owns three data centres and operates hosting and, more recently, co-lo services. It also runs an IaaS business working with channel partners.

Jones said that on top of customer lists it is also looking at "something to bolt onto our cloud environment".

In the last P&L accounts reported at Companies House for the year to 31 December 2011, UKFast saw turnover rise 32 per cent on the previous year to £16m and banked net profit of £2.6m up from £629,000. ®

Secure remote control for conventional and virtual desktops

More from The Register

next story
Canadian ISP Shaw falls over with 'routing' sickness
How sure are you of cloud computing now?
Don't call it throttling: Ericsson 'priority' tech gives users their own slice of spectrum
Actually it's a nifty trick - at least you'll pay for what you get
Three floats Jolla in Hong Kong: Says Sailfish is '3rd option'
Network throws hat into ring with Linux-powered handsets
Fifteen zero days found in hacker router comp romp
Four routers rooted in SOHOpelessly Broken challenge
New Sprint CEO says he will lower axe on staff – but prices come first
'Very disruptive' new rates to be revealed next week
PwC says US biz lagging in Internet of Things
Grass is greener in Asia, say the sensors
Ofcom sees RISE OF THE MACHINE-to-machine cell comms
Study spots 9% growth in IoT m2m mobile data connections
O2 vs Vodafone: Mobe firms grab for GCHQ, gov.uk security badge
No, the spooks love US best, say rival firms
Ancient pager tech SMS: It works, it's fab, but wow, get a load of that incoming SPAM
Networks' main issue: they don't know how it works, says expert
Trans-Pacific: Google spaffs cash on FAST undersea packet-flinging
One of 6 backers for new 60 Tbps cable to hook US to Japan
prev story

Whitepapers

Endpoint data privacy in the cloud is easier than you think
Innovations in encryption and storage resolve issues of data privacy and key requirements for companies to look for in a solution.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Top 8 considerations to enable and simplify mobility
In this whitepaper learn how to successfully add mobile capabilities simply and cost effectively.
Solving today's distributed Big Data backup challenges
Enable IT efficiency and allow a firm to access and reuse corporate information for competitive advantage, ultimately changing business outcomes.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.