itX buys web hosting business

ASX-listed distributor itX have acquired web hosting business ICO International, it announced in a statement to the ASX.

ASX-listed distributor itX have acquired web hosting business ICO International, it announced in a statement to the ASX.

ICO, a Web hosting business established in 1997, provides hosting services to around 155 customers running Microsoft operating systems.

The hosting service provider’s equipment is housed in a data-centre in Sydney and has an AS/NZ 7799 security rating. ICO also maintains a presence in the equivalent data centre in Melbourne.

Under the terms of the agreement itX will fund the acquisition from existing cash reserves. However the specific terms of the agreement of the acquisition are the subject of confidential obligations.

Managing director of itX, Laurie Sellers said “ICO business has considerable potential to expand further and there is a good fit for this business within itX’s services arm, neXos.