Japanese giant NTT gobbles London data centre biz Gyron
'I sold that', insists Vince Cable. 'Me!'
NTT Communications has coughed an undisclosed financial fur ball to take a majority stake in data centre services provider Gyron.
The Hemel Hempstead-based Gyron sells colocation and connectivity services to large enterprises including Adobe, Symantec and music streaming outfit Spotify via a 3 MW server farm on the outskirts of London.
Under the terms of the deal, Gyron MD Robin Balen and ops director Ben Miller will retain a small stake and continue their current roles in the hosting company.
Balen said existing and future customers will benefit from the deal but failed to details the reasons for this.
Sinister yet ineffectual Secretary of State for Business and Innovation and Skills Vince Cable was on hand to provide a quote about the acquisition, claiming it confirms the UK as the "ICT hub of Europe".
Cable said he had met NTT CEO and president Akira Arima at the company HQ in Japan last summer in the aftermath of the earthquake to "reassure" the nation that Blighty's "door was open to do business with them".
"I am therefore delighted with today's announcement by NTT, which shows the strength of the trade ties between our two countries," he said.
Quite how fluffy eared Cable was able to convince the CEO to invest in the UK is open to debate, maybe there were translation issues that worked in his favour.
Gyron, which turned over £5.8m in 2001 compared to £3.5m in the previous and recorded an operating profit of £1.6m compared to £300,000, is building two additional data centres with a total capacity of 16 MW. ®