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January 06, 2014

InterCloud Systems Acquires Integration Partners-NY Corporation

InterCloud Systems, Inc., a provider of end-to end IT and telecom solutions to the service provider and corporate enterprise markets, recently announced that it has completed the acquisition of Integration Partners-NY Corporation ("IPC (News - Alert)-NY"), a managed service provider offering its enterprise and service provider clients an end-to-end portfolio of IT solutions.

The officials from InterCloud Systems said that IPC-NY will help distribute the Company's cloud platform to its new and existing customer base. IPC-NY consults, designs, builds, implements and services IT networks for enterprise and service provider networks. The services from InterCloud enable clients to transition from existing IT networks to open architecture Cloud based solutions. The company recorded 2013 gross revenues of approximately $25 million and a 2013 net income of approximately $3.5 million.

Speaking on the transaction, InterCloud CEO, Mark E. Munro, said, "We are excited to have completed this important acquisition. There are significant growth opportunities in cloud-based solutions that will allow both our enterprise and service provider customers to integrate their applications and services into our cloud platform. InterCloud and IPC-NY create a dynamic organization that leverages our capabilities to deliver and support the many facets of cloud applications and managed services. We are looking forward to an exciting year in 2014 and beyond."

In related news, InterCloud Systems, Inc. announced a number of new cloud contracts designed to serve the enterprise and service provider markets. The company says the new cloud platform and professional services contracts are expected to generate from $3.5 million to $7 million in revenues this year. InterCloud’s Professional Services Group is responsible for the contracts, which include a deal to manage 4G/LTE (News - Alert) wire network upgrades and expansions for a wireless OEM. InterCloud will provide maintenance services to that company as well. Another new contract entails professional services for network engineering, project management and other senior technical classifications for a major carrier.

Edited by Cassandra Tucker

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