Iomart Group plc (GB:IOM) has released an update.
Don’t Miss TipRanks’ Half Year Sale
- Take advantage of TipRanks Premium for 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Iomart Group plc has announced the strategic acquisition of Atech Support Limited for £57m, aiming to enhance its cloud services and Microsoft Solutions offerings. The deal is expected to provide cross-selling opportunities, operational efficiencies, and a strengthened leadership team with Atech CEO Ryan Langley joining as Group CTO. Despite facing a flat revenue and a decline in profits in the first half of the year, the Group anticipates the acquisition to drive future revenue growth and reduce customer churn.
For further insights into GB:IOM stock, check out TipRanks’ Stock Analysis page.