Main Capital has acquired a “substantial minority stake” in IASO Backup Technology, a Dutch provider of online backup software. No financial terms were disclosed.
Main Capital has acquired a substantial minority stake in IASO Backup Technology, market leader in online backup software. Main Capital is thereby anticipating on the fast growing market of online backup services. Growth of digital data today is larger than ever stimulated by the growing capacity of network connections and storage media. The value of data is immense and often priceless (e.g. photos, films and corporate data). This growth capital injection of Main Capital enables IASO to roll out its online backup solutions internationally.
IASO is the backup technology supplier behind for ‘KPN Back-up Online’, Freecom Backup Online and Interpolis ‘Dataparaat’. The company recently launched IASO Backup 2010, a new software version. IASO has a proven track record on the performance and scalability of its technologies. The company is therefore perfectly capable of serving larger clients. The company has a clear competitive advantage with its new software architecture which includes a unique data deduplication method. No other software is able to backup data online so efficiently. At the same time, the company introduces a new Saas (software as a service) pricing model in order to be able to offer the software suite to customers at a lower initial investment level.
Online backup has proven itself as an efficient method to backup data safely and secured on a daily basis. IASO does not sell its software directly to end customers but via Service Providers and IT Resellers. Growth opportunities are particularly present in the SME market where currently only 8% of the companies are using online backup solutions. Increasingly also consumers will use online backup services, for example to store photographs in case of a computer crash. In the coming years IASO will further build on an international partner network, a premium services organization and a leading position within the European market.
With Main Capital, the company has an entrepreneurial investor on board. Main will help and advise management where possible in order to realize the further growth of the company and therefore will receive a board seat.
Rob Verbeek about IASO and the collaboration with Main:
The capital injection comes at the perfect moment. For the past one and half years we have worked hard on improving our software and making the company ready for the next growth stage. The participation of Main Capital in our company provides us with the opportunity to further invest in growth; this will be mainly abroad due to our already dominant market share within the Netherlands.
Charly Zwemstra, Managing Partner of Main Capital:
We believe now is an excellent time to invest after the relative conservative investment years 2008 and 2009. By investing now, we are anticipating on the trend of strong growth in online backup services. The company has a proven to be a frontrunner in this market. With a scalable business model as basis we will focus on further internalization in coming years.