InterCloud rebounds after announcing acquisition

InterCloud (ICLD +6.3%) is acquiring VaultLogix, provider of cloud backup/recovery services for SMBs. Deal terms are undisclosed.

VaultLogix has nearly 10K customers, $12M+ in annual recurring revenue, and annual EBITDA of $4.5M. The company will cross-sell InterCloud's cloud services to its clients.

Shares are recovering some of the huge losses they saw on Friday after a law firm announced it's investigation paid promotion allegations involving InterCloud.

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