Weather Investments II S.a.r.l is not a company devoted to meteorological services. Instead the company is a financial services firm that focuses on buying strategic shares of other companies in order to turn a profit when those companies are profitable. It is going to be acquiring Cloud Aggregator intY, a company that 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.
Weather Investments II S.a.r.l has purchased the company for an undisclosed amount. For now, the organization and management of Cloud Aggregator intY (News - Alert) is set to remain as it was before the purchase occurred. This is good news for the company's workers who may see little to no turnover with the purchase of the company if things truly are staying the same in the long run.
The management of both companies seem excited about the possibilities of the purchase. Naguib Sawiris (News - Alert), chairman and CEO of Weather Investments II said, "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."
Meanwhile over at intY, CEO Chris Baldock, 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 (News - Alert) platform, this is an exciting time of expansion for us and all our partners."
Want to learn more about the latest in communications and technology? Then be sure to attend ITEXPO West 2012, taking place Oct. 2-5, in Austin, TX. ITEXPO (News - Alert) offers an educational program to help corporate decision makers select the right IP-based voice, video, fax and unified communications solutions to improve their operations. It's also where service providers learn how to profitably roll out the services their subscribers are clamoring for – and where resellers can learn about new growth opportunities. For more information on registering for ITEXPO click here.
Stay in touch with everything happening at ITEXPO. Follow us on Twitter.