Last checked at (Sharecast News) - Cloud computing company Iomart said on Wednesday that it had made plans to majorly expand its network capacity in order to see future demand.
Iomart said it had invested nearly £2.0m into next-generation core routing technology from Cisco, which will provide 100gb capacity on its network with the ability to scale to 400gb.
As a result, Iomart said its customers would benefit from "faster, even more reliable connections" to support their data and applications.
The AIM-listed firm highlighted that the investment followed "a noticeable increase" in internet traffic due to Covid-19, with Iomart committed to increasing its ability as a service provider in order to anticipate future demand.
Chief executive Reece Donovan said: "This is a significant investment that supports our growth strategy and underlines our commitment to provide businesses with the services they need to support their future operations.
"The investment ensures our customers will have the ability to deliver content and services faster than ever and without disruption."
As of 0935 GMT, Iomart shares were up 0.46% at 327.50p.
24 Nov 2011 09:48
Thursday broker round-up - UPDATE
Weir: Peel Hunt upgrades from hold to buy, target cut from 2,100p to 2,000p. Weir: Investec maintains buy rating and 2,250p target. Compass: Panmure Gordon raises target from 643p to 658p, buy rating unchanged. Smith & Nephew: Panmure Gordon cuts target from 750p to 640p, buy rating kept. Dixons
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