Third acquisition by Iomart in the past year
Iomart has bought IT infrastructure service provider EQSN in a £2.27million deal.
The Glasgow firm is paying £2.25 million up front with a further £225,000 deferred until integration the two companies is complete.
EQSN, founded in Glasgow in 2000, provides managed hosting services to industries such as banking and finance, manufacturing, social networking and the NHS.
It specialises in delivering secure datacentre based hosting solutions by way of hosting, bandwidth supply and managed IT services.
Iomart chief executive, Angus MacSween, said: "We are delighted with this addition to the Iomart Group as we continue to drive forward our reputation as a leading provider of secure web hosting and managed services for business.
"EQSN has an impressive customer base and is a strong strategic and cultural fit for us."
All eight ESQN employees will transfer over to Iomart when the deal is concluded, and its chief executive,Alan Lorimer, will take up a senior role within the combined group.
Lorimer said: "EQSN is a very successful company in its own right.
"Becoming part of Iomart is a natural next step for us.
"It means that we can offer our customers even more value through an extended service portfolio and facilities because of Iomart's fully owned, managed and secure datacentre network and its commitment to providing customers with peace of mind."
EQSN is the third acquisition in a year for AIM-listed Iomart.
In November last year it paid s4.2million for technical hosting business Titan Internet then in April this year Liverpool based Switch Media was snapped up for £1.25million.
MacSween added: "The purchase of EQSN fits perfectly with our stated intention of looking for acquisitions that add depth and value.
"We are ambitious to keep growing organically and by acquisitions and will continue to look for similar opportunities moving forward."
Last June, AIM-listed Iomart reported a 600 per cent profit hike to £2.8 million for the year to March 31,2011 on a 38 per cent rise in revenues to £25.3 million.
Its hosting customer base grew by more than 60 per cent, fuelled by the move away from costly fixed IT infrastructure towards data centre hosted IT.
Iomart then announced in an interim update in September it was on track to report better than expected results for 2011.
The group is expected to report revenues and profits significantly ahead of last year when it posts half year to 30 September next week.
Iomart, which owns its own data centres and network infrastructure, is benefiting from organisations looking to reduce operational risk and IT costs by moving critical business applications over to service providers.
Founded in 1998, Iomart is now one of Europe's largest managed hosting providers, employing 207 staff.
The group provides managing services for around 300,000 customers each day.