NEW YORK, NY and GLASGOW, SCOTLAND--(Marketwire - Mar 27, 2013) - Velocity Technology Solutions, Inc. (Velocity), the leader in cloud application services in North America, today announced that it has completed the acquisition of UK-based velos-IT, Ltd (velos-IT). velos-IT provides hosting, managed services and consulting to medium- and large-scale European enterprises.
"Velocity and velos-IT share a common set of core values and a reputation for technology innovation and customer service," said Tom Bruno, CEO of Velocity. "The acquisition of velos-IT furthers our global services footprint and immediately strengthens and expands our Universal Cloud Services offering to include Oracle E-Business Suite. We are excited to serve the European market and enthusiastically welcome the entire velos-IT team into the Velocity family." Velocity's Universal Cloud Services suite includes fully-managed application services, platform-as-a-service (PaaS), infrastructure-as-a-service (IaaS), and managed disaster recovery services delivered through a secure and resilient virtual private cloud.
Founded in 2004, velos-IT is one of the UK's fastest-growing IT services companies and employs approximately 100 in Glasgow, Scotland. "We are excited by the opportunity to leverage the knowledge and technical expertise of Velocity and velos-IT across the expanse of Universal Cloud Services and extend a compelling offering for our current and future customers. This is fantastic news for both velos-IT customers and employees alike," said Jim McInnes, founder and Managing Director of velos-IT, who has been named Velocity's General Manager, Europe. The velos-IT customer base crosses multiple industries and ranges from mid-market through enterprises with revenues exceeding £3 Billion. velos-IT serves organizations with operations in 25 countries. Their services include 24/7 support of business applications and IT infrastructure, systems integration, application deployment, upgrades, and custom software development. Expertise includes Oracle JD Edwards and E-Business Suite, and QlikView business intelligence software.
"We remain focused on expanding our lead in the cloud services market through development of new channels, service offerings, and strategic acquisitions," said Steve Shippee, Chief Strategy Officer. "This multi-faceted approach is critical to our customer-focused strategy -- providing a robust offering and top-tier service while we continue to expand our capabilities."
Velocity and velos-IT are privately held. Financial terms of the transaction were not disclosed.
About Velocity Technology Solutions
Velocity Technology Solutions is the leading provider of cloud-based Managed Application Services and Managed Disaster Recovery Services. It is dedicated to lowering operational costs, providing industry-leading service levels and improving software performance while reducing the burden on IT staff and enabling deployment flexibility. Velocity provides virtual private cloud solutions for enterprise applications with high levels of performance. Expertise managing software 24/7, combined with proprietary technology that enhances availability, security, and control, make Velocity the trusted partner for rapidly and securely deploying application investments into a secure and resilient virtual private cloud. Velocity is headquartered in New York with facilities in Minneapolis, Seattle, Denver, Tampa, London (Canada), Glasgow (Scotland). Velocity is a portfolio company of Silver Lake Sumeru, a global leader in private equity investments in growth-oriented technology and technology-enabled companies (for additional information on the firm and its entire portfolio, visit www.silverlake.com). For more information on Velocity: visit www.velocity.cc.
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