Hosting 365 acquired by IT services giant SunGard
Dublin-based cloud-computing and data centre services company Hosting 365 has been acquired by US software and IT services giant SunGard for an undisclosed sum.
Hosting 365 has built a strong presence in Ireland delivering both data-centre managed IT services and, more recently, on-demand computing services within its cloud-computing environment.
The company has been providing hosted services since 2001 and operates from two secure data centres in the Dublin area.
While the terms of the deal have not been disclosed, Hosting 365’s acquisition is expected to have material impact on SunGard’s results.
“We are pleased to become part of SunGard and to augment our product portfolio with SunGard’s capabilities,” said Ed Byrne, general manager, Hosting 365.
“The addition of SunGard’s world-class range of availability solutions will help ensure that we can continue to reinforce our leadership position in Ireland,” he added.
“Hosting 365 has built a superb business since its formation. The deal has major benefits for both parties: SunGard gains access to a new geographic market and proven cloud-computing expertise, while Hosting 365 extends its product range with our own managed IT services, business continuity and disaster recovery solutions,” explained Keith Tilley, managing director UK and executive vice-president Europe for SunGard Availability Services.
With annual revenue exceeding US$5bn, SunGard is ranked 435 on the Fortune 500 and is the largest privately held business software and services company on the Forbes list of private businesses.
The company currently serves more than 25,000 customers in more than 70 countries.
Article courtesy of Businessandleadership.com