Velocity Completes Acquisition of UK Managed Services Company velos-IT

Velocity Technology Solutions Inc., a provider of cloud application services, has completed its acquisition of U.K. company velos-IT, which offers managed services, hosting and consulting for mid-to-large-sized organizations in Europe.

Financial terms of the arrangement were not disclosed, and both companies are privately held.

The customer base of velos-IT spans multiple industries, serving companies of all sizes located in 25 countries. The company provides 24/7 support of business applications and IT infrastructure, systems integration and application deployment. velos-IT also performs upgrades and custom software development with particular expertise in the Oracle JD Edwards and E-Business Suite, as well as the QlikView business intelligence software.

The company's offerings will be integrated with Velocity's Universal Cloud Services suite. Offerings include fully managed application services, Platform-as-a-Service (PaaS), Infrastructure-as-a-Service (IaaS) and managed disaster recovery services.

Solutions are provided through a secure and resilient virtual private cloud.

"Velocity and velos-IT share a common set of core values and a reputation for technology innovation and customer service," said Tom Bruno, CEO at Velocity. "The acquisition of velos-IT furthers our global services footprint and immediately strengthens and expands our Universal Cloud Services offering to include Oracle E-Business Suite. We are excited to serve the European market and enthusiastically welcome the entire velos-IT team into the Velocity family."

"We are excited by the opportunity to leverage the knowledge and technical expertise of Velocity and velos-IT across the expanse of Universal Cloud Services and extend a compelling offering for our current and future customers. This is fantastic news for both velos-IT customers and employees alike," added Jim McInnes, founder and managing director of velos-IT, who has been named Velocity's General Manager, Europe.

Velocity has headquarters in New York with offices in Minneapolis, Seattle, Denver, Tampa, London (Canada) and Glasgow. It is a portfolio company of private equity investment company, Silver Lake Sumeru.