Adapt to acquire cloud computing services firm eLINIA.
17 April 2012 - UK IT services provider Adapt said today it had sealed a definitive deal to purchase local IT infrastructure outsourcing specialists eLINIA for an undisclosed price.
The target company was established in 2004 and has an enterprise value of some GBP13m (USD20.7m/EUR15.8m). Adapt said that the latest deal is the first of a new wave of acquisitions that will boost its medium-term growth strategy, bolstering its position within the UK managed services market. Sales of the combined company will surpass GBP50m, the buyer said.
Through the acquisition, Adapta[euro](tm)s clients will benefit from new high quality data centre facilities in Cardiff, Newport and Slough, while eLINIAa[euro](tm)s customers will benefit from access to Adapta[euro](tm)s extensive service portfolio, including its Enterprise Virtual Data Centre (eVDC).
Adapt's chief executive Stewart Smythe said that the deal is in line with the company's strategy of establishing itself as the country's go-to provider of pure play managed IT services. The deal will provide the firm the scale, strength and breadth of offering to accelerate this process, added Smythe.
The buyer's clients include Cubic Transportation Systems, Last.fm, LOVEFiLM, LCH.Clearnet and PKR. The company raised GBP30m in funding in 2011 from independent private investment house Lyceum Capital Partners.Country: UKSector: IT/Online ServicesTarget: eLINIA WebServices LimitedBuyer: Adapt Services LtdType: Corporate acquisitionStatus: Agreed