XKO Group plc acquires Datacentre Limited disaster recovery assets

XKO has announced the acquisition of certain trading assets and business activities from Datacentre Limited, a private company operating primarily on the Isle of Man, for an aggregate consideration of £1.7 million.

The assets and activities being acquired relate primarily to the provision of high specification disaster recovery and contracted infrastructure support services. The disaster recovery services are delivered to financial sector corporates under medium term contracts supported by a high level of fixed capital investment and support staff.

XKO has acquiring the ongoing disaster recovery contract base and the related asset base with a view to providing an enhanced service to customers and long term certainty of supply. The acquisition has enabled XKO to acquire well invested disaster recovery facilities in both the Isle of Man and the Channel Islands.

The funding for the acquisition has been provided by The Royal Bank of Scotland through an increase of XKO term loan facilities.

Commenting on the acquisition the chief executive, Simon Beart said:
“This acquisition underlines our commitment to servicing our government and financial services customers and our determination to provide customers with all the services they require. The provision of disaster recovery is now a core part of our extended offering and we will be looking for further opportunities in this area”.

www.xko.co.uk/

•Date: 13th February 2004 •Region: UK •Type: Article •Topic: BC markets
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