Velocity Technology Solutions, a portfolio company of Silver Lake Sumeru, has closed its buy of iXtend, an Oracle managed services provider. No financial terms were disclosed. IXtend is based in Denver, Colorado.
NEW YORK, NY–(Marketwired – Jun 10, 2013) – Velocity Technology Solutions, Inc. (Velocity), a leader in cloud application hosting for enterprise and business software, has completed the acquisition of iXtend, a Managed Services Provider (MSP) for Oracle’s JD Edwards EnterpriseOne and Oracle’s JD Edwards World software. iXtend maintains corporate headquarters in Denver. Velocity and iXtend are privately held. Financial terms of the deal were not disclosed. The transaction is Velocity’s second acquisition since March 2013 when it purchased velos-IT of Glasgow, Scotland.
“iXtend is an established, well-regarded business partner in the Oracle JD Edwards community with specialized skills in Configurable Network Computing (CNC) and application support,” said Tom Bruno, CEO of Velocity. “This merger strengthens Velocity’s base of talented professionals and expands the services and technology available to iXtend’s customers. It is also an opportunity to extend our Universal Cloud Services to a new group of companies in the Oracle marketplace. We look forward to welcoming iXtend customers and employees to the Velocity family.”
With the iXtend acquisition, Velocity further expands its presence as a dominant source for Oracle JD Edwards solutions in the cloud. The introduction of support for Oracle E-Business Suite at COLLABORATE 13 in mid-April deepened Velocity’s partnership with Oracle, expanded the company’s commitment to the Oracle community, and broadened its Universal Cloud Services offering. 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.
Darian Anderson, former Chairman and CEO of iXtend, has joined Velocity as VP of Global Business Development, Oracle Solutions. “iXtend and Velocity share a commitment to customer service and value, constant improvement, and innovation,” said Anderson. “Velocity is recognized for setting the performance and service standards for Managed Application Services. Our integration into Velocity is excellent news for iXtend customers, partners and employees.”
About Velocity Technology Solutions
Velocity Technology Solutions is a leader in enterprise and business application hosting services which are fully-managed and protected within a virtual private cloud. Velocity lowers operational costs, provides world-class customer experiences, and delivers application access at top levels of performance and availability. Velocity’s expertise managing software 24/7, combined with its proprietary infrastructure design and cloud management platform, guarantee the availability, security, and control over software. Velocity is the trusted partner for rapidly deploying application software into a secure and resilient virtual private cloud.
Velocity is headquartered in New York with facilities in Denver, Minneapolis, Seattle, London (Canada), and Glasgow (UK). 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.