UKFast hoovers up customer list of BurstNET
Cloud and server hosting biz jumps on M&A trail
UKFast has made its first acquisition under a newly recruited M&A head after taking on the local customer base of US hosting biz BurstNET.
As previously revealed, the cloud silo and server hosting provider hauled in former LDC and PwC director Catherine Houghton to steer an acquisition plan after claiming it lost out to rivals on previous deals.
According to UKFast, the deal with BurstNET for an undisclosed sum will see an additional 1,500 customers transfer to it on top of the 4,500 it claims to deal with already.
CEO Lawrence Jones told us that Google's cost per customer lead was climbing and it wanted to use alternative methods of expansion.
"I don't want a business that is a one trick pony," he said.
Shawn Arcus, CEO at BurstNET said the deal came about when it approached UKFast about moving ten racks from data centre provider Telecity.
Houghton built up more than a decade of M&A experience as an investment director at private equity house LDC, which recently sold its stake in Trustmarque, and as a director of corporate finance at PwC.
She said in a canned statement: "We already have a number of other acquisition opportunities in the pipeline which are currently under assessment".
International law firm Pinsent Mason advised on the BurstNET deal. ®