LUXEMBURG, London, July 27, 2012 /PRNewswire/ -- Weather Investments II S.a.r.l ("Weather") and intY Ltd ("intY") announced today that Weather has acquired intY, the award winning Cloud Computing company, marking a strategic investment to accelerate the growth of cloud aggregation services across the globe.
The intY management and operational team will remain unchanged; driving the business into its next phase of global expansion with its intY CASCADE platform. CASCADE is a key enabling technology allowing service providers and resellers to bring together cloud computing applications from multiple vendors in an integrated solution, with one touch provisioning, billing and management of all services.
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.
Naguib Sawiris, Chairman and CEO of Weather commented, "We are delighted to make this strategic investment in intY. We believe that intY's multi tenanted technology and approach to the delivery of cloud applications provides an environment for service providers to rapidly build cloud revenues, whilst providing increased customer retention and differentiation of solutions in a rapidly growing but increasingly competitive market."
Chris Baldock, CEO of intY said, "The investment, telecom expertise and global reach of Weather will add significant value to intY as we rapidly grow our business. With a planned collection of cloud software applications, products and services scheduled to be added during the next 12 months and an increasing number of domestic and global service providers joining the intY CASCADE platform, this is an exciting time of expansion for us and all our partners."
Mark Herbert, Business Development Director and Founder of intY said, "intY now has the ability to execute its global plans to revolutionize the way Cloud Services are aggregated and delivered through service provider and reseller channels to deliver proven success in customer revenue uplift, retention and satisfaction. intY's CASCADE platform and vision is highly attractive to our target channels where we have achieved significant success to-date; the team at intY is now positioned to rapidly increase the CASCADE market footprint."
Weather was advised by Accelero Capital; which focuses on telecommunication and related media and technology companies that clearly hold promise in the rapidly and profoundly changing telecom and enterprise markets worldwide.
Khaled Bichara, co-CEO of Accelero Capital commented: "Following Weather's acquisition of Joyent, a global provider of cloud computing software and services, earlier this year, this transaction reinforces Weather's potential to become a leading player in providing state of the art cloud computing solutions worldwide."
intY develops, integrates, provisions and bills Cloud Computing applications and services to SMB and enterprise customers through a global network of service provider and systems integrator partners. The company, named 'European Service Provider of the Year' in 2012, has unique intellectual property via its intY CASCADE cloud eco system. Awarded 'Most Innovative Channel Product' upon its launch in 2011, intY CASCADE enables service providers to gain instant access for resale to leading cloud based software applications from market leaders including Microsoft, whilst facilitating integration with the partner's own products and services. For more information visit www.intycascade.com.
About Weather Investments II
Weather Investments II is an experienced investor and strategic shareholder in telecommunications companies. Weather Investments II notably owns an economic interest of about 20% in VimpelCom, the world's sixth largest mobile telecommunications group by subscribers.
About Accelero Capital
Accelero Capital is an investment and management group focused on telecommunication, digital media and technology. Accelero Capital's management team has an unparalleled track record in strategic, operational and financial management. It leverages its expertise and sector know-how to identify high-growth assets with turnaround potential. For more information email email@example.com or visit http://www.accelerocapital.com.
intY Media Contact EMEA
Jennifer Manning/Andrew Parker
T: +44 (0)7796 330081
T: +44(0)1291 626200
intY Media Contact USA
Weather Investments II Media Contact
M: +20122 215 6333