Weather Investments II, a strategic shareholder in telecommunications companies, recently announced the acquisition of intY (News - Alert), an award-winning cloud computing company. The acquisition is a strategic investment for Weather with the aim of accelerating the growth of cloud aggregation services globally.
"We are delighted to make this strategic investment in intY," said Naguib Sawiris (News - Alert), chairman and CEO of Weather, in a press release. "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."
The intY management and operational team is to remain unchanged after the acquisition and will continue to drive the business forward as planned with the global expansion of its intY Cascade platform. Cascade is an enabling technology which aggregates cloud services for resellers, service providers and vendors. The platform enables partners to quickly take new services to market and features a range of unified communications and security services from application providers, such as Microsoft, Symantec (News - Alert), SIPCOM and F-Secure.
Cascade was released in March of this year, launching with the support of nearly 60 service partners. With the backing of Weather Investments, intY will be better equipped to go forward with its planned expansion, adding new products and services to Cascade over the next year.
"The investment, telecom expertise and global reach of Weather will add significant value to intY as we rapidly grow our business," said Chris Baldock, CEO of intY. "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 (News - Alert) platform, this is an exciting time of expansion for us and all our partners."
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