Hosting and cloud services provider iomart Group has forked out £2.48m to acquire fellow Glasgow-based infrastructure provider EQSN, and signalled its ambition to continue growing through acquisitions that "add depth and value" to its proposition.
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"We are ambitious to keep growing organically and by acquisitions and will continue to look for similar opportunities moving forward," said group CEO Angus McSween.
VMware partner EQSN specialises in vertically-focused managed hosting, bandwidth supply and manages services in both the private and public sectors.
Alan Lorimer, CEO at the 11-year old firm, said that becoming part of iomart was a "natural" next step in the firm's lifecycle.
"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," he added.
McSween said: "We are delighted with this addition to the Group as we continue to drive forward our reputation as a leading provider of secure web hosting and managed services.
"EQSN has an impressive customer base and is a strong strategic and cultural fit for us," he added.
The purchase price is made up of a £2.25m cash consideration payable at completion, to be followed by a deferred payment of up to £225,000 based on the successful integration of EQSN.