CITY firms’ growing need to store and process millions of files online has led British data centre firm Six Degrees Group (6DG) to buy out BIS, a London based operator.
6DG, which runs hosting centres across Europe, said the acquisition would enable it to take advantage of the rapidly growing UK data market, the largest in Europe.
BIS owns five data centres in London, with one in the City and two in the Docklands. Its clients include many of the Square Mile’s banks including Barclays Capital.
Alastair Mills, 6DG’s chief executive, said the acquisition would enable to company to snap up a host of new customers in London. “To serve both our City clients and mid-market customers across the UK, a central London data centre presence is critical,” he said. “The location adds huge credibility to our service offering. Many of our target customers still insist on a proprietary London presence. We are gaining a high-quality hosting centre at the heart of the country’s digital economy.”
The acquisition is the latest in a rush of investments into data centres as firms with sensitive digital information look to store it securely.
The price of the deal was not disclosed, but 6DG said it would add £16m in revenues.