Lumison continues growth strategy with acquisition of DediPower Managed Hosting Ltd
Lumison has today strengthened its position in the IT Managed Services sector by acquiring DediPower Managed Hosting Ltd, a Reading-based managed hosting and colocation provider. The acquisition brings Lumison’s combined turnover to £27.5million, and continues its business expansion strategy, which has seen the company’s revenues grow from £6.4m to £27.5m over the last three years.
The acquisition, which closed today, will see Lumison employ 130 staff across the UK and provide managed IT services to several thousand British businesses. This is Lumison’s second acquisition since it received investment funding from Bridgepoint Development Capital in October 2010. In March 2011, Lumison acquired Blue Square Data for £22 million.
Lumison offers colocation, managed hosting and cloud services to UK ‘mid market’ companies hosting their online operations, business applications and development environments. DediPower brings experience in colocation and managed hosting services with 70% of their revenue coming from managed services. This complements Lumison’s existing capabilities and the combined business will provide customers with enhanced managed IT services (dedicated and shared), managed network and colocation services across eight UK datacentres.
DediPower has grown successfully since it was formed in 1998 and is one of the fastest growing technology companies in the UK, receiving a number 41 position in the 2010 Sunday Times Tech Track 100.
Lumison Group CEO Mark Howling said: “The addition of DediPower to the business is a strong strategic and cultural fit and will consolidate our position as a leading player in the IT Managed Services sector. The Group will remain focused on providing practical, cost-effective solutions to customer business IT issues. Customers increasingly demand reliable IT infrastructure-as-a-service as the need for a scalable and flexible way of working grows; with DediPower’s expertise, Lumison is even better placed to deliver this.”
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