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Oakley Capital Corporate Finance (“Oakley”) has advised intY Ltd (“intY”, “the Company”), the award winning cloud computing company, on its sale to Weather Investments II S.a.r.l (“Weather II”), the experienced investor and strategic shareholder in global telecommunications companies. The acquisition by Weather II is part of a strategic investment programme to accelerate the growth of cloud aggregation services across the globe.
Through its proprietary cloud eco-sysetm “CASCADE”, Bristol based intY develops, integrates, provisions and bills cloud applications and services to enterprise and SME customers through a global network of service provider and systems integrator partners. intY is a key syndication partner for Microsoft and is at the forefront of the roll-out of Microsoft’s Office 365 cloud software. The business has won numerous awards including “2012 European Service Provider of the Year” and “Most Innovative Channel Product” for CASCADE.
Weather II is headed by Naguib Sawiris, who was formerly executive chairman of Orascom Telecom Holding S.A.E. Weather II is an experienced investor and strategic shareholder in telecommunications companies. Weather II notably owns an economic interest of about 20% in VimpelCom Ltd., the world’s sixth largest mobile telecommunications group by subscribers. Weather II was advised by Accelero Capital; an investment and management group focused on telecommunication, digital media and technology.
This transaction will help drive initiatives to support and extend the rapidly growing footprint of CASCADE in EMEA and the US as well as the expansion into new markets of South America and APAC. This includes accelerated product development, a significant increase in headcount with regional sales and engineering recruitment and joint go-to-market programs with partners.
The intY deal is another demonstration of Oakley’s experience and network in the global hosting and cloud services market. Last month Oakley completed the sale of NetBenefit (UK) Limited (“NetBenefit”; the “Company”), the managed hosting provider, for £25m in cash to PEER 1 Network Enterprises Inc. of Canada. The transaction is also the 37th completed by Oakley since launch in late 2007.
The Oakley team was led by Chris Godsmark, joint Managing Partner and James Chapman-Andrews, Associate Director. Chris Godsmark said, “we are delighted to have put intY together with Weather II and Accelero at such a critical stage in the global roll-out of cloud services. intY has generated huge amounts of publicity with software and services providers and the additional investment and global reach of Weather II and Accelero will provide intY with the firepower to accelerate its growth significantly.”
Chris Baldock, Chief Executive Officer of intY said, “Oakley worked tirelessly from the outset to identify the best home for our business as it moved from ownership by private individual shareholders to becoming part of a major global investment group. We were impressed by the Oakley process management and network of contacts and would not hesitate to recommend Oakley in future.”
For further information please contact:
Oakley Capital Corporate Finance
Chris Godsmark
James Chapman-Andrews
(020) 7766 6900
Notes to editors:
Oakley Capital Corporate Finance (“Oakley”) is a mid-market corporate finance business which provides advice to quoted and private companies. We are also particularly active in the hosting M&A market, where we have close contacts with many of the key service providers. We also offer Corporate Broking advice to UK listed businesses on a retained basis. The intY deal is the 37th transaction for Oakley since late 2007.