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iomart Group's £20M BT Deal rings up top business award

03/09/09

iomart Group plc, the parent company of iomart Hosting, received the top award for small/mid-sized deal of the year at last night’s Business Insider Deals and Dealmakers Awards.

The deal, which saw the Group dispose of its directory service Ufindus to BT for £20 million, was seen by the judges as a “superbly planned execution” of a plan conceived to allow the Group to focus on its core data centre and hosting business.

iomart Group’s chief executive Angus MacSween said: “The Ufindus deal worked because it was a result of thorough planning in line with our business strategy.”

“Having decided that the directory business did not fit with the future strategy of the Group we were keen to move as quickly as possible to create a leaner operating structure, and one that would enable the Group to accelerate both organic and acquisitive growth, as we strive to become one of the UK’s foremost hosting companies.” 

iomart Group was also named as runner up in the Deal of the Year category, which was won by Clyde Blowers for its $1 billion acquisition of four companies from US giant Textron.

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