Glasgow-based secure cloud services firm Iomart confirmed on Wednesday afternoon it is in exclusive talks with regard to the possible acquisition of Kookaburra Topco Limited, the holding company of Atech Support Limited.

Iomart said it believes that the possible acquisition of Atech would accelerate its growth strategy.

In a stock exchange statement, the Glasgow firm said: “The board of Iomart notes the recent press speculation and confirms that the Company is in exclusive talks with regard to the possible acquisition of Kookaburra Topco Limited, the holding company of Atech Support Limited, a leading, highly accredited Microsoft Solutions Partner, delivering complex, multi-platform solutions, public cloud digital transformation and specialised managed security services to mid-sized enterprises.

“There is no guarantee that the possible acquisition will proceed, however, if it were to proceed, it would be financed from the company’s existing cash resources and banking facilities and be classified as a substantial transaction under the AIM Rules for companies.

“The directors of Iomart believe that the possible acquisition of Atech would accelerate Iomart’s growth strategy, positioning the enlarged group as the leading provider of secure public, private and hybrid cloud services to mid-sized enterprises in the UK.

“Further announcements will be made as and when appropriate.”