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March 28, 2014
This week, InterCloud Systems, Inc. (Nasdaq: ICLD) announced that it has entered into a Definitive Agreement to acquire cloud solutions company, VaultLogix, LLC for undisclosed amount. According to the official press release, “the transaction is expected to close in the next 60 days, and is subject to customary closing conditions and acceptable financing terms.”
Established in 2002, VaultLogix is a Danvers, MA based hybrid cloud backup services provider with a client list of “nearly 10,000 businesses from around the world” and “has over $12 million in annual recurring revenue, with EBITDA at approximately $4.5 Million”.
We reached out to the CEO of VaultLogix Tim Hannibal to give us more insight into this acquisition and perhaps give us some information what the vision of the new company will be.
Secondly, “InterCloud a multitude services provider, which offers cloud and managed services, professional consulting services and voice, data and optical solutions, and many more. This allows VaultLogix to innovate and grow exponentially. For instance, VaultLogix had four data centres in the United States and Canada before the acquisition; and InterCloud had four data centres in similar locations before this acquisition”. Hannibal points out that “now the combined eight data centres will give us huge advantages over the competition”.
Why VaultLogix was chosen for this acquisition? Hannibal lists the reasons:
So, what is possible in this marriage?
We congratulate everyone at VaultLogix for their successful exit.
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About the Author: Mamush Heayie is Founding Analyst and Managing Editor at BackupReview.info
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