‘UK cloud services are strong and ready to compete with the world’s best tech economies’, Cloudreach CEO says as company makes first acquisition
Company sets out “substantial investment plans” for new software business unit to develop an independent partner ecosystem, increase partner resources, and accelerate product development.
London-based cloud services company Cloudreach has made its first acquisition by investing in a majority stake of Philadelphia-based cloud computing analytics and migration automation Cloudamize.
The company has not disclosed financial details, however it said the combined entity has a “major presence” in North America and the UK as well as operations in six other countries.
The acquisition has taken place months into negotiations between the UK and the European Union (EU) which will lead to the UK’s departure from the EU.
Recent reports suggest that Brexit, as the process is known for, has had an impact on decision making in nine out of ten companies based in the UK.
However, speaking to Data Economy, Cloudreach CEO Pontus Noren defended that his company’s deal is proof that UK businesses are still “strong and ready” to take a leading position on the global stage.
He said: “With so much uncertainty for businesses hovering around Brexit, this deal helps prove that UK tech, especially around cloud services, is still strong and ready to compete with the world’s best tech economies.
“The technology industry is borderless and will continue to thrive amidst geo-political divisions.”
Building on that, the company said it has “substantial investment plans” for the new software business unit to develop an independent Cloudamize partner ecosystem, increase partner resources, and accelerate product development.
Cloudamize’s customer include companies such as BP, Volkswagen Financial Services and Hearst.
Noren said: “Combining Cloudamize’s industry leading cloud analytics and migration automation with Cloudreach’s expertise will make it easier for our customers to adopt cloud quickly, efficiently, and at scale.
“Ultimately it is all about enabling enterprises to innovate using the power provided by hyperscale cloud platforms either through Cloudreach’s services or via our growing independent partner ecosystem.”
Khushboo Shah, Cloudamize founder and chairman, said: “When we first launched Cloudamize, we saw an opportunity to automate the tedious and manual process of discovering applications and infrastructure, building migration plans, and determining best possible cloud configurations for optimal performance.
“I am thrilled to combine efforts with Cloudreach as it is time we move the market beyond the brute-force manpower-intensive processes of the past and help our customers focus instead on maximizing the value of their cloud deployments.”