InterCloud Systems is planning to acquire cloud solutions companyVaultLogix. Financial terms were not disclosed.
VaultLogix is a provider of hybrid cloud backup services to nearly 10,000 businesses around the world. Protecting servers, laptops and PC’s, VaultLogix offers a combination of encryption, block-level data duplication and compression. VaultLogix maintains annual SOC2 Type 2 review of its infrastructure, processes and controls and is GSA certified.
The deal also brings InterCloud over 500 channel partners. VaultLogix’s partner program offers software branding, a partner portal, dedicated account management and integration with 13 of the premier RMM and PSA companies.
“Our entire team is very excited about joining InterCloud,” said Tim Hannibal, CEO of VaultLogix. “We look forward to both selling the VaultLogix services to the impressive InterCloud clientele as well as cross-selling the portfolio of InterCloud services to our existing team of resellers and customers.”
He added, “As the managed services industry evolves, customers are looking toward a single vendor for multiple cloud services. InterCloud’s wide range of cloud services such as IaaS, virtual desktop, hosted Exchange, disaster recovery in the cloud and file sharing are highly complementary to the VaultLogix cloud backup service.”
The transaction is expected to close in the next 60 days and is subject to customary closing conditions and acceptable financing terms. VaultLogix has over $12 million in annual recurring revenue with EBITDA at approximately $4.5 Million.
