Tue, 29 Aug 2006
Exalia, the London-based web hosting company, has been acquired by the web hosting and domain management group NBT for up to £3.2m. NBT will pay an initial consideration of £2m in cash, followed by two payments of up to £600k, subject to agreed revenue targets for the twelve month periods ending 31 January 2007 and 31 January 2008. The final payment will be made in shares. In a statement, NBT said that the acquisition would accelerate its managed hosting business and enable it to provide larger companies with more complex solutions. In July 2006, Exalia had an annualised revenue base of £1m and aims to increase this to £2m by January 2008 in order to meet the criteria for maximum earn-out.