Wheelings and Dealings: InterCloud to Expand Cloud Services Reach by Acquiring IPC-NY

Building on a successful year that has seen it become a publicly traded company while boosting its cloud and managed services offerings, InterCloud Systems, Inc. has signed an agreement to acquire Integration Partners-NY Corporation (IPC-NY). The deal will further support the managed service provider’s (MSP) cloud and managed service offerings and is expected to be complete by the end of the year.

InterCloud, which bills itself as a global, single-source provider of services for enterprises as well as service providers, has spent the year building up capital assets and focusing on expansion. Last month the MSP announced it had brought in more than $2.5 million in new professional services contracts from new and existing providers, and the company is expected to have gross revenues of approximately $25 million for 2013.

The acquisition is being funded by the sale of $11.625 million aggregate principal amount of 12 percent convertible notes, to be due in 2015. IPC-NY will bring new enterprise and service provider customers to the table, fueling the expansion of InterCloud’s enterprise cloud platform. The InterCloudvm cloud services platform enables users to securely access applications through a private, public or hybrid cloud and features IaaS, PaaS and SaaS modules. The company additionally offers an array of managed voice and data services, as well as VPN, firewall and optical network remote management.

“We are excited about the synergies this acquisition brings to InterCloud and its immediate accretive earnings affect,” said Mark E. Munro, CEO of InterCloud, of the acquisition. “There are significant growth opportunities in cloud-based solutions that allow both enterprises and service providers to integrate their applications and various services into our cloud platform and offer them the ability to deliver services cost efficiently to their customers. InterCloud and IPC-NY create a dynamic organization that leverages our capabilities to deliver and support the many facets of cloud applications and managed services. We are very pleased that we had the institutional support to enable this transaction to happen.”