Cloud Equity Group LLC has acquired CloudAccess.net. Financial terms weren’t announced. CloudAccess.net is a hosting and support platform for the Joomla and WordPress content management systems.
NEW YORK, NY (PRWEB) MAY 09, 2016
Private equity investment firm Cloud Equity Group, LLC (“Cloud Equity Group”) today announced that a fund managed by the firm has acquired CloudAccess.net, a premier cloud-based hosting and support platform for Joomla and WordPress based content managers with offices worldwide.
Kevin Wilson, Managing Partner at Cloud Equity Group, stated, “CloudAccess.net has done a phenomenal job at executing within a niche segment of the internet hosting market by developing a proprietary Cloud Control Panel (CCP) specifically catering to Joomla and WordPress users. We believe that by combining our resources with CloudAccess.net’s expertise and IT infrastructure, the company will be well positioned for continued future growth.”
It’s no secret the do-it-yourself website building industry is growing at a phenomenal rate. Companies of all size are making the realization they can lower their IT costs and increase their rate of return by building and managing their websites in-house. With Joomla and WordPress currently powering over 25% of the world’s websites, it’s no surprise that cloud-based platforms catering to these content management systems are in high demand. CloudAccess.net’s CCP serves the market by providing instantly deployable custom Joomla and WordPress applications as a service, backed by state-of-the-art cloud infrastructure and industry leading fully managed support.
“We view Software as a Service (SaaS) as a strong opportunity and a growth market. Significant investment and development is taking place throughout the industry which will only accelerate as cloud-based technologies continue to advance. We’re thrilled with the opportunity to incorporate CloudAccess.net into our existing portfolio and look forward to leveraging the team’s combined expertise as we expand to new niche market segments,” Wilson concluded.
“The CloudAccess.net team is thrilled with the acquisition which is viewed as a perfect organizational fit by everyone from senior management down”, stated Jonathan Gafill, CEO of CloudAccess.net. “We now have a clear path towards maximizing growth potential and we look forward to becoming a resounding success in Cloud Equity Group’s expanding portfolio.” Jonathan will be remaining with the company as CEO.
About Cloud Equity Group
Cloud Equity Group is a strategically positioned investment management firm capitalizing on the rapidly expanding industries of web hosting and cloud-based infrastructure. The company’s primary focus is leveraging 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. Their portfolio’s target build-up models unlocking unrealized efficiencies and profitability, while driving optimal enterprise valuations.
CloudAccess.net is the premiere hosting and support platform for the Joomla and WordPress content management systems. The company developed and has exclusive rights to the Cloud Control Panel (CCP), a custom built, feature-rich, application management portal that is setting new standards within the hosting industry. CloudAccess.net is home to over 15,000 websites and offers an industry-leading support team that supports all core Joomla or WordPress features.