Nasstar is selling its web hosting operations for £120,000.
This business involves 13 customers, which generate revenues of just under £120,000 a year and had direct costs of around £30,000 a year. On top of this it requires staff and other overheads.
This was a non-core business and the cash and staff will be used to continue the growth of the hosted desktop services, such as accounts and other software, which are handled over the internet rather than on servers in the office.
Group turnover, including web hosting, was £1.19m in the year to September 2007.
At 35p a share, Nasstar is worth £5.06m.
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