Interoute, owner-operator of one of Europe's largest networks and a global cloud services platform, announced today that it has entered into an agreement to acquire European managed services provider Easynet, subject to certain customary closing conditions. The transaction places an enterprise value of £402 million on Easynet. On a pro forma basis, after giving effect to the acquisition, Interoute would have had total revenue of over €700 million in the twelve months ended 30 June 2015.
The acquisition will enable enterprise, government and service provider customers of the merged group to access a full suite of the combined companies products and services. In addition to increased products and services, the acquisition will bring an enhanced and expanded set of skills and capability to serve both companies’ existing customers and new prospects across the world.
Interoute was recently recognised as a Leader in Gartner’s 2015 Magic Quadrant for Cloud-Enabled Managed Hosting, Europe[1] report.
Interoute provides a range of Unified Connectivity, Computing and Communications products and services to multinational and national enterprises, such as UEFA, the European Space Agency, SCA and Saxo Bank, global telecommunications operators and internet content providers. Easynet has an impressive client base spanning global enterprises and public sector entities, as well as national clients.
Gareth Williams, Interoute's CEO commented, "These are exciting times for Interoute and our customers as we create a leading, independent European ICT provider. It's the next step in our acquisition strategy and moves us much closer to our goal of being the provider of choice to Europe’s digital economy."
Mark Thompson, CEO of Easynet, commented, "I believe this acquisition will bring great benefits to both Interoute's and Easynet’s customers. The combined companies can offer broader and deeper connectivity options, as well as an expanded portfolio of products and services, and the acquisition will further expand an already market-leading cloud hosting capability in Europe."
[1] Gartner, Inc. Magic Quadrant for Cloud-Enabled Managed Hosting, Europe - Tiny Haynes, Gianluca Tramacere, and Gregor Petri, June 30, 2015
