UKFast is considering an IPO where it should be worth upwards of £350 million.
UKFast flogs dedicated servers, cloud services and colocation to more than 5,000 government, public sector and commercial organisations. It has been doing well and last year it turned over £47 million.
UKFast CEO Lawrence Jones said: “We’ve given away shares in the company to loyal teammates who work incredibly hard, but we’ve never seriously considered selling shares before now. Timing is critical and a great deal depends on market conditions, so that’s why we’ve appointed GCA Altium.”
Jones claimed in this latest announcement that there is firmly a place for British providers in the multicloud world.
“The British hosting market is incredibly exciting and, whilst there’s a lot of talk around AWS and Azure, the industry’s adoption of multicloud strategies means there’s a huge opportunity for British cloud providers to give the US organisations a run for their money”, he said.
“We’ve seen from the deals we’re winning in the public sector and at government level that there’s an appetite from British organisations to deal with other British organisations. By continuing to invest in our technology and our product set, I see UKFast as being the definitive British alternative.”
