British company Claranet announced its acquisition of Star Technology Services, another British company based in the managed technology services industry.
Claranet designated this takeover as a major achievement since it makes it one of the largest hosting providers in both the UK and mainland Europe. For Star Technology Services the firm paid out roughly $71 million. Although Claranet Limited owns Star and all its subsidiaries, the company will continue to trade using its existing entities.
The founder of Claranet and the CEO of the whole group revealed in a press release: “From a market and customer perspective, this is a great opportunity to bring together the experience and resources of two great companies to deliver a broader service portfolio to benefit our customers,” The founder and CEO continued to say: “It’s our mission to help our customers make the most of Internet-enabled technology, and the acquisition of Star will enable us to continue to deliver on this promise. The announcement confirms our ambition to become the clear European leader in the delivery of managed services. This is nothing short of a British entrepreneurial success story, as both companies were founded here in the UK.”
The press release didn’t go into the reasons for the acquisition, but observers predict it came about through the desire to expand its existing services and customer base.
Immediately after the acquisition, experts estimate it will bring in $155 million per annum, employ roughly 700 staff members, along with possessing registered offices and facilities in countries like Portugal, Germany, France, and the Netherlands.
Customers who used Star in the past will now have the benefit of Claranet’s fantastic cloud hosting infrastructure. Its cloud computing facilities have been in place for about a year and enable a unique combination of cloud computing and Star’s remote desktop and security services capabilities.
Overall, the biggest benefit for customers is the entrenched financial might of Claranet and Star. Claranet guarantees its future as a result of this acquisition since they now have the resources to weather any damaging European economic storm.