Mar. 24, 2014, 12:03 PM
- 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.
Feb. 3, 2014, 12:35 PM
- Though it made sure to fill its acquisition PR with plenty of tech buzzwords, InterCloud (ICLD -7.4%) remains off sharply after announcing its buying RentVM, a developer of cloud infrastructure technology that leverages virtualization software (simplifies management and improves resource efficiency) to deliver cloud computing, storage, and other services. Terms are undisclosed.
- InterCloud says RentVM's virtualization-based platform will allow it to offer "several optimized open-source and license based business applications to its customer in multi-tenant or private cloud models," and assist its goal to "offer a full suite of cloud services."
Dec. 13, 2013, 7:32 PM
- InterCloud Systems (ICLD +11.9%) acquires managed voice, data, optical, and unified communications services provider Integration Partners-NY. Close is expected by the end of the year.
- InterCloud expects IPC-NY to generate net income of $3.5M on revenue of $25M in 2013.
- To finance the acquisition, InterCloud has completed the sale of $11.625M in 12% convertible notes due 2015.
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