Bristol-based cloud computing company IntY has been acquired by Weather Investments, the telecoms investment vehicle behind the Wind mobile phone brand. Financial details of the deal have not been disclosed.
IntY’s management and operational team will remain unchanged, Weather said. They will drive the business into its next phase of global expansion with its CASCADE platform, a key enabling technology allowing service providers and resellers to integrate cloud computing applications from multiple vendors with one touch provisioning, billing and management of all services.
IntY was founded 15 years ago and since then has been at the forefront of pay as you go managed IT and security services security.
This transaction will help drive initiatives to support and extend the rapidly-growing footprint of CASCADE in Europe, the Middle East, Asia and the US as well as the expansion into new markets of South America and Asia Pacific. This includes accelerated product development, a significant increase in headcount with regional sales and engineering recruitment and joint go-to-market programs with partners.
Weather chairman Naguib Sawiris, said: “We believe that IntY’s multi-tenanted technology and approach to the delivery of cloud applications provides an environment for service providers to rapidly-build cloud revenues, whilst providing increased customer retention and differentiation of solutions in a rapidly growing but increasingly competitive market.”
IntY CEO Chris Baldock said: “The investment, telecom expertise and global reach of Weather will add significant value to IntY as we rapidly grow our business. With a planned collection of cloud software applications, products and services scheduled to be added during the next 12 months and an increasing number of domestic and global service providers joining the IntY CASCADE platform, this is an exciting time of expansion for us and all our partners.”
IntY founder and business development director Mark Herbert added: “IntY now has the ability to execute its global plans to revolutionize the way cloud services are aggregated and delivered through service provider channels to deliver proven success in customer revenue uplift, retention and satisfaction. IntY’s CASCADE platform and vision is highly attractive to our target channels where we have achieved significant success to-date; the team at IntY is now positioned to rapidly increase the CASCADE market footprint.”
Weather was advised by Accelero Capital, which focuses on telecommunication and related-media and technology companies that clearly hold promise in the rapidly and profoundly changing telecom and enterprise markets worldwide.
