Story image

APAC the driving force behind Megaport's FY16 revenue

25 Aug 16

Megaport’s revenue is up 80% from the beginning of the financial year, with the majority of revenue being generated in the Asia-Pacific units.

The company’s CEO Denver Maddux couldn’t be happier about the yearly earnings results that have just been released.

“We are extremely pleased with the results of our Australian and New Zealand business units, where we have the longest operational history. We have seen tremendous uptake in the number of ports and services,” he says.

“Not only does this mean we are increasing the number of customers participating in our ecosystem, but it also indicates a strong adoption of customers accessing of services across our platform. This takes the form of IaaS, PaaS, IP, Transport, Voice, and Managed Services, among others,” explains Maddux.

He adds that with the acceleration of the company’s European deployment through the acquisition of OM-NIX and ECIX, they’ve effectively leapfrogged their original deployment plan.

“This enables us to hit the market hard and fast with a unique service footprint. With the addition of Mark Cooper as EVP of Europe, along with the ECIX leadership team, I am confident in our ability to capture the growing cloud connectivity market throughout Europe,” says Maddux.

In regards to APAC expansion, Megaport has expanded into six new locations and increased its footprint in underserved cloud connectivity markets like Auckland and Perth.

The company’s expansion into North America has also been completed.

“North America required an aggressive, organic buildout to reach key service markets and provide the right service coverage. Since the region began generating revenue in May, we have seen a marked increase in the number ports ordered,” continues Maddux.

“The demand for cloud connectivity services by data centre operators drove us to expand to Portland and Las Vegas, which are in addition to our original planned footprint.”

Moving forward, the company looks to complete network development through organic means and acquisitions, accelerate revenue growth in all markets, and continue its ecosystem expansion.

“Megaport is well positioned in terms of talent, footprint, ecosystem, and partnerships. We have one of the most pervasive elastic interconnection platforms around the globe,” says Maddux.

“The recent funding enables us to take advantage of the significant opportunities ahead for Megaport. I could not be more thrilled by our team’s performance in fiscal year 2016. We are very excited to execute on our plan and bring elastic interconnection services to even more places around the globe.”

Hillstone CTO's 2019 security predictions
Hillstone Networks CTO Tim Liu shares what key developments could be expected in the areas of security compliance, cloud, security, AI and IoT.
Can it be trusted? Huawei’s founder speaks out
Ren Zhengfei spoke candidly in a recent media roundtable about security, 5G, his daughter’s detainment, the USA, and the West’s perception of Huawei.
Oracle Java Card update boosts security for IoT devices
"Java Card 3.1 is very significant to the Internet of Things, bringing interoperability, security and flexibility to a fast-growing market currently lacking high-security and flexible edge security solutions."
How SMBs can use data to drive business outcomes
With the right technology, companies can capture consumer, sales, and expense data, and use it to evaluate and construct future plans.
Survey shows that IoT is RoI across Asia Pacific
A recent Frost & Sullivan survey across Australia, Hong Kong and Singapore shows that IoT deployment improves business metrics by around 12%.
IDC: Aussie spending on IT Services to hit $23.5B by 2023
the project-oriented market which is predicted to achieve the highest CAGR through to 2023; though no market is expected to decline
Sophos hires ex-McAfee SVP Gavin Struther
After 16 years as the APAC senior vice president and president for McAfee, Struthers is now heading the APJ arm of Sophos.
Security platform provider Deep Instinct expands local presence
The company has made two A/NZ specific leadership hires and formed several partnerships with organisations in the region.