Weather Investments II S.a.r.l (“Weather”) and intY Ltd (“intY”) announced today that Weather has acquired intY, the award winning Cloud Computing company, marking a strategic investment to accelerate the growth of cloud aggregation services across the globe.
The intY management and operational team will remain unchanged; driving the business into its next phase of global expansion with its intY CASCADE platform. CASCADE is a key enabling technology allowing service providers and resellers to bring together cloud computing applications from multiple vendors in an integrated solution, with one touch provisioning, billing and management of all services.
This transaction will help drive initiatives to support and extend the rapidly growing footprint of CASCADE in EMEA and the US as well as the expansion into new markets of South America and APAC. This includes accelerated product development, a significant increase in headcount with regional sales and engineering recruitment and joint go-to-market programs with partners.
Naguib Sawiris, Chairman and CEO of Weather commented, “We are delighted to make this strategic investment in intY. 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.”
Chris Baldock, CEO of intY 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.”
Mark Herbert, Business Development Director and Founder of intY said, “intY now has the ability to execute its global plans to revolutionize the way Cloud Services are aggregated and delivered through service provider and reseller 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.
Khaled Bichara, co-CEO of Accelero Capital commented: “Following Weather’s acquisition of Joyent, a global provider of cloud computing software and services, earlier this year, this transaction reinforces Weather’s potential to become a leading player in providing state of the art cloud computing solutions worldwide.”
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