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The IT solutions company hopes to grow its portfolio, services by adding the 12-yr-old cloud service
The enterprising cloud service company, Voxel, has been acquired by the IT solution company Internap, for $30 million cash according to a company announcement Tuesday.
The terms of the acquisition also allow for an additional $5 million in cash over the next two years if set out performances are met by Voxel.
Voxel, founded in 1999, has provided on-demand hosting and cloud services to enterprises and Web-based businesses and touts more than 1,000 customers and near 50 employees for the New York City-based company.
By bringing on the services and talent from Voxel, Internap hopes to compliment its portfolio and help provide more cloud services to its existing customers.
"As IT Infrastructure outsourcing advances, enterprises increasingly seek service providers to support myriad applications and workloads throughout their entire IT lifecycle," said Eric Cooney, president and chief executive officer of Internap, in a statement. "This acquisition of Voxel increases Internap's market share and growth rate, accelerates our product roadmap and creates an unmatched competitive position as an IT Infrastructure services provider."
Internap is betting that this company additions will allow its customers to "seamlessly integrate physical servers and cloud instances in the same environment" and provide more global connections since Voxel has locations in Amsterdam and Singapore.
Voxel was backed by Seaport Capital in New York and DH Capital served as financial advisor for the cloud company.
In March, Voxel completed a Series A round of funding to the tune of $5.5 million. Those funds were slated to expand its business in North America, Europe and Asia by expanding the server system.
Voxel c lists Cicso System, WordPress, RedHat and Django as some of its most recognizable clients.
Internap has been providing enterprise IT solutions out of its Atlanta headquarters since 1996.
The Internap stock (NASDAQ: INAP) started Tuesday morning on the market up one-thenth of a percent at $6.06.
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