Internet firm buyout
LANCASTER internet directory business, Ufindus, has been sold to BT in a £20 million deal.
Parent company, the iomart group, will continue to provide hosting services for BT under a new agreement and, with the anticipated £15 million profit from the sale, will expand its web hosting businesses.
Ufindus was launched in 2002 near the Caton Road M6 junction and has since grown to be a leader in the provision of listing and websites for small business customers.
Recently, iomart won the contract to provide IT facilities for Aroxo, a new online marketplace aiming to rival eBay.
Angus MacSween, CEO of iomart, said: "This disposal of Ufindus, in this more uncertain economic environment, reflects the quality of the business that has been built up and crystallises its value for shareholders."
The full article contains 133 words and appears in n/a newspaper.
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Last Updated:
25 July 2008 9:22 AM
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Source:
n/a
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Location:
Morecambe
