Cloud Equity Group has bought Just199 Hosting, a South Carolina-based low-cost web hosting provider. No financial terms were disclosed.
New York, NY (PRWEB) November 11, 2014
Cloud Equity Group, an investment management company focused on opportunistic acquisitions of web service providers, today announced the acquisition of Just199 Hosting, a leading budget web hosting provider based out of South Carolina.
Just199 Hosting, which operates under Just199.com, was founded in 2006 by Dave Wykofka with the goal of providing easy-to-use budget hosting services for the masses. Over time, the company diversified its product offerings to include shared hosting, reseller hosting, virtual private servers, paid forum hosting, and remote support.
Cloud Equity Group will integrate Just199 Hosting into its consolidated portfolio to deliver a premium budget hosting service to both novice and advanced website owners worldwide. According to Sean Frank, Managing Partner at Cloud Equity Group, “This acquisition aligns with our focus of providing robust hosting solutions geared to help both individuals and small businesses develop an online presence.”
“As we got to know Dave and his team, we became impressed with the platform and quality of product they developed with minimal capital input. Just199 offers a more affordable hosting solution than the majority of hosting providers in the industry while fully facilitating individuals and small businesses in creating a unique online presence,” Mr. Frank added. “We plan to open new opportunities and enhance Just199 Hosting’s digital footprint by leveraging Cloud Equity Group’s existing infrastructure as well as taking their feature-rich hosting services and providing them to the masses. We’re excited and eager to get started.”
About Cloud Equity Group
Cloud Equity Group is a Wall Street based private equity and mezzanine debt firm strategically positioned to capitalize on the rapidly expanding industries of web hosting and cloud-based infrastructure. CEG’s primary focus is levering investor capital in the acquisition of private lower middle market companies that possess high levels of unlevered free cash flow and/or significant opportunity for exponential growth.
About Just199 Hosting
Just199 Hosting is a part of South Carolina-based HOSTED HERE LLC, a privately held profitable group of companies. Founded on the idea of exceptional customer service and support, Hosted Here’s objective is to provide a Tier-1 web hosting solution for small-medium scale businesses and individuals at about 15% of the contemporary prices.