Ioko strides on with global expansion
A YORK-based IT services specialist is making its mark across the world as it continues its rapid expansion programme.
Yorkshire accountancy firm Garbutt & Elliott is advising ioko on its expansion, which has seen the company start operations in Australia, Spain and the USA.
Ioko, which has forged a worldwide reputation for designing, building and running applications and platforms for media and entertainment giants, has opened offices in all three locations in the past 18 months.
Garbutt & Elliott has worked with ioko since it formed at York Science Park 15 years ago.
Alan Sidebottom, a director of Garbutt & Elliott, said that his firm’s links with Praxity, the international alliance of independent accountancy firms, had been crucial in providing ioko with the best financial advice internationally and securing local advice in each territory.
He said: “We have been able to give ioko essential advice on cross-border taxation, employee benefits and bonuses and corporate affairs. The different territory tax systems can be a minefield and we have been delighted to help a long-standing client like ioko in all its new ventures.
“It has been extremely gratifying to watch ioko grow from a small IT outfit at York Science Park into a global player and we have been proud to help. This is a tremendous success story for York.”
Allan Dunn, chief finance officer at ioko, said: “Opening up in any new territory involves a degree of risk and it has been reassuring that Garbutt & Elliott have reduced the taxation and regulatory risk we faced in each new territory. To know this “minefield” is covered off by Garbutt & Elliott allows us to focus on the business and investment decisions at hand.”
ioko has established a reputation as a provider of world-class IT platforms on behalf of large telecommunications, media and entertainment enterprises around the world.
The £50m company has built long-term relationships with some of the world’s leading media and entertainment brands including the BBC, Channel 4, ITV, Foxtel, BSkyB, AT&T, and Walt Disney.
