UKFast in the media
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UKFast looks to London for expansion - November 08Web-hosting company UKFast is considering opening a sales office in London to help it win new business in the south of England and hit an £18m revenue target for next year. The Manchester-based company, which is on course to turn over between £6m and £7m this year, plans to take on 20 new sales staff in Manchester by January 4 and add an additional six new recruits each quarter after that. Managing director Lawrence Jones said that opening an office in London would be the obvious next step to further expansion. He also said the company was considering acquisitions, but that price expectations and valuations were currently too high. Any new addition would likely be run as a separate business but under the same management structure and be allowed to compete with the group's existing operation. "A bit of competition is healthy," Jones told Crain's, adding that the company has about £1m in the bank which could be used for acquisitions. "We are in talks with like-minded businesses," he said. Andrew Bishop, managing director of Milton Keynes-based web-hosting service Host-It, agreed with Jones that price expectations were currently too high, but said he expected these to come down as supply starts to outstrip demand. He also said the location of a hosting business was largely irrelevant as 90 per cent of clients never even get to see the hardware. He said having an office in London may be good for political reasons and could help raise the company's profile amongst some larger firms, but warned that the capital is already a very crowded marketplace. To read the rest of the article visit the following page on the Crain's Manchester website: www.crainsmanchesterbusiness.co.uk. |
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