The acquisition of Sonassi by iomart heralds a new chapter in the eCommerce hosting space. Spearheaded by entrepreneur Benjamin Lessani, Sonassi is set to integrate its strengths with iomart’s extensive resources.
This strategic acquisition, valued at several million pounds, signifies iomart’s commitment to expanding its reach and enhancing its service offerings in the competitive eCommerce sector.
Acquisition of Sonassi by iomart
In a strategic move envisioned to bolster its presence in the eCommerce sector, AIM-listed cloud computing firm iomart has acquired Sonassi, an eCommerce hosting specialist, in a multimillion-pound agreement. This acquisition aligns perfectly with iomart’s goal of expanding its market influence within the eCommerce hosting industry. Sonassi, known for its expertise in Magento and Oro Commerce platforms, will now operate under iomart’s banner, strengthening their arsenal in the competitive hosting landscape.
Background and Expertise
Headquartered in the bustling area of Salford Quays, Sonassi was established by entrepreneur Benjamin Lessani in 2008. The company has flourished under his leadership, catering to a diverse clientele that includes international brands and prominent UK high street retailers. Leveraging its specialised knowledge in Magento and Oro Commerce, Sonassi has successfully positioned itself as a reliable provider of eCommerce solutions, attracting a myriad of fashion websites as part of its customer base.
Benjamin Lessani, reflecting on the acquisition, expressed enthusiasm about joining iomart, stating, “As part of iomart we will have access to the best infrastructure, connectivity, and skillset there is.” This transition is expected to pave the way for innovative advancements within the eCommerce hosting sector.
The Strategic Vision of iomart
iomart’s Chief Executive Officer, Angus MacSween, articulated the strategic foresight behind the acquisition. He stated, “We believe eCommerce is an area of the market which provides a good opportunity for future growth.” This sentiment underscores iomart’s determination to assert itself as the preferred choice for eCommerce hosting solutions.
Through the acquisition of Sonassi, iomart aims to enhance its service offerings and become a dominant force in this significant market segment, capitalising on the growing digital commerce trend. Their efforts reflect a strategic initiative to harness Sonassi’s strengths and merge them with iomart’s robust infrastructure.
Moreover, the financial dynamics of the deal involve an initial cash payment of £10m, with additional performance-related payments contingent on Sonassi’s financial achievements up to July 2018.
Financial Implications and Growth Metrics
The acquisition takes place amidst a backdrop of positive financial performance for iomart. In its recent half-year financial report, iomart announced a 12% increase in revenue, amounting to £47 million, alongside a 9% rise in adjusted pre-tax profit, reaching £11.6 million. Such financial metrics highlight iomart’s capability to support and integrate new ventures like Sonassi into its operational framework.
These figures not only reflect iomart’s resilience in an increasingly competitive market but also its ability to sustain growth through strategic acquisitions. By incorporating Sonassi, iomart is set to enhance its competitive edge and capitalize on emerging eCommerce opportunities.
Benefits for eCommerce Sector
The incorporation of Sonassi under the iomart umbrella promises several benefits for the eCommerce sector. Clients can expect enhanced hosting services backed by iomart’s advanced infrastructure and Sonassi’s specialised expertise.
This fusion of capabilities is intended to deliver superior service quality, reliability, and scalability to accommodate the growing needs of eCommerce businesses. The synergy between iomart’s infrastructure and Sonassi’s niche skills will likely lead to pioneering solutions within the industry, benefitting existing and prospective customers alike.
Ultimately, this acquisition exemplifies how strategic collaborations can foster innovation and uplift service standards in the eCommerce hosting sector, paving the way for exciting developments.
The Future Outlook
Looking ahead, iomart’s integration of Sonassi sets a promising trajectory for future advancements in eCommerce hosting. The deal showcases iomart’s confidence in expanding intelligently within a sector poised for substantial growth.
Both entities anticipate a dynamic collaboration, working jointly towards the goal of revolutionising eCommerce hosting services. By aligning their goals and resources, they aim to lead the charge in catering to the evolving demands of the digital commerce marketplace.
As the landscape of digital commerce continues to evolve, iomart and Sonassi’s partnership is well-positioned to harness this momentum, setting new benchmarks in service delivery and market leadership.
Conclusion of Acquisition Deal
In summary, the acquisition of Sonassi by iomart represents a significant stride forward in the realm of eCommerce hosting. With Sonassi’s unique expertise and iomart’s robust support, the partnership is set to redefine standards and drive industry innovation.
Sonassi’s acquisition marks a pivotal moment for both companies in the eCommerce hosting industry. Together, they aim to deliver outstanding services and foster innovation.