LONDON (Alliance News) - IT managed services provider Redcentric PLC on Friday said it has struck a GBP4.8 million cash deal to acquire data centres provider City Lifeline Ltd.
Redcentric said City Lifeline owns a number of data centres in London, including a site in Tech City in east London. The acquisition will boost its existing data centre portfolio and will significantly expand Redcentric's capacity.
"City Lifeline is a great addition to our network of datacentres, something we've been seeking in London for a while. This is a low risk move, earnings enhancing from day one and is a further step in the Redcentric growth strategy," said Fraser Fisher, Redcentric's chief executive.
Shares in Redcentric were up 0.1% to 181.60 pence.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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Redcentric (RCN)