IT managed services provider Cantono is raising £10.6m in order to invest in data centres.
Research firm Gartner estimates that more than 50% of large businesses will face a shortage of data centre space. The £240m price tag put on data centres operator IX Europe shows the high valuations put on these businesses. Cantono believes that it can take advantage of this. It isn’t involved with data centres at the moment but it does have the management expertise. It will probably take around nine months to invest the cash and Cantono will reveal more details of its strategy as it progresses.
The existing shares are being consolidated on the basis of 20 existing shares for one new one. The new shares are being issued at 100p each. Cantono is still looking for additional acquisitions for its managed services side. It has sold all the non-core parts of the business.
© 2021 Aim Micro. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.