US managed cloud services provider Datapipe has acquired UK counterpart Adapt for an undisclosed amount, in a bid to expand into Europe.
Adapt is based in the UK with offices in London, Cardiff, Leeds and Ipswich. Datapipe is based in New Jersey, and the firm claims the acquisition will provide it with a large UK base from which to start its European expansion.
In its last reported annual results for the year ending 30 June 2015, Adapt saw post-tax losses widen to £13.8m on revenues that fell 14 per cent to £43.3m.
The firm claimed it had been a "successful year", citing "strong strategic progress towards our goal to be the leading managed cloud services provider in the UK".
Its private equity backer Lyceum Capital pumped £13.1m into Adapt for the business to invest more into its MCS offerings during the financial year 2015.
Robb Allen, CEO of Datapipe, said: "Adapt and Datapipe both have cultures that focus on proactive, high-touch customer service and a commitment to customer-specific solutions designed to meet clients' individual business challenges. Our similar approach to guiding clients on their cloud journey makes the acquisition a natural fit for us and will increase our scale and services capabilities in the UK, and the broader European market."
Vendor's announcements include AI-powered Microsoft Office, a move away from password verification and an alliance with Adobe and SAP
Vendor claims hackers are hijacking machines to mine for cryptocurrency
Nearly half of SMBs are planning to invest in digital workflows to reduce their paper-based processes by 2025, according to Quocirca
The charter has pulled together the biggest names in tech in an unprecedented attempt to address the tech industry's lack of diversity. Tom Wright asks how it plans to do it