UK internet firm Lumison has acquired BlueSquare Data, a provider of data centre collocation services, for £22 million.
The transaction is Lumison’s first acquisition since it was bought out by private equity firm Bridgepoint Development Capital in October 2010 and inaugurates its “buy-and-build” strategy.
BlueSquare Data, which has data centres in Maidenhead and Milton Keynes, provide racking and cooling equipment that enable its customers to house their servers in a safe and secure environment.
According to Bridgepoint, the UK data centre hosting market is worth £15 billion, and is growing by more than ten per cent every year, as more companies turn to outsourcing their hosting requirements.
“The acquisition of BlueSquare Data will more than treble the rack capacity we can now offer our customers and extends our catchment area of potential customers across the UK,” Lumison executive chairman Mark Howling said.
Regent Partners LLP acted as exclusive Corporate Finance advisor to Lumison.