CMA clears Interoute’s acquisition as company doubles the size of its enterprise IT services business
Europe’s Interoute has completed its £402 million acquisition of UK managed services provider Easynet.
Cleared yesterday by the UK’s Competition and Markets Authority (CMA), Interoute said that the deal doubles the size and scale of its enterprise ICT services business, which now accounts for more than 70 percent of its total business.
Gareth Williams, Interoute’s CEO, said that the acquisition is a big step forward.
“The additional scale, skills and services within the combined business will bring significant benefits to our national and multi-national customers and prospects,” he said.
On a pro forma basis, after giving effect to the acquisition, Interoute would have had total revenue of over €700 million in the twelve months ended 30 June 2015.
Earlier this year, UK cloud provider Interoute announced it was looking to aggressively expand its data centre network across Europe, bringing on board private equity investors to help bankroll cloud acquisitions both here and in the US.
The Telecommunications company, based out of Canary Wharf, is one of Europe’s largest cloud services platform providers, with networks spread out across the continent, North America, the Middle East and Africa.
Interoute currently runs over 67,000 km of fibre, 12 data centres, 13 virtual data centres and 31 colocation centres, with connections to 195 additional third-party data centres across Europe.
The privately held company is majority owned by the Swiss Sandoz Family Foundation. Completion is expected to occur by the end of April 2015.