Bulletproof buys managed private cloud company in $3.5m deal
Bulletproof has acquired managed private cloud company Infoplex in a $3.55 million deal.
Infoplex, part of the Nextgen Group, manages and hosts blue chip customers' private cloud requirements for core enterprise applications, utilising third party data centers in Sydney and Melbourne.
Anthony Woodward, Bulletproof chief executive, says the acquisition gives the company additional, market leading, private cloud capacity and capability.
“As Bulletproof engages clients in their journey to cloud, we increasingly identify applications that customers wish to move to private cloud for a variety of reasons,” he says.
He says the deal not only expands Bulletproof's offering, but ‘presents a clear opportunity to the company to acquire more of these customers'.
“Infoplex uses technology platforms and skills in which we are already the proven market leader, providing managed private cloud services to customers like Bluescape Steel, Crownbet and Movember,” Woodward says.
“The acquisition will give us broader depth and additional skills to deliver more world class private cloud services to enterprise and government customers.
He says the acquisition also positions Bulletproof as the largest managed cloud services provider in the region.
Infoplex currently has annualised revenues of around $6 million, with maintainable earnings of $1.4 million EBITDA annually, including some synergies applied immediately upon completion of the transaction.
Bulletproof says once the business is fully integrated, further savings will be achieved, with full synergies expected to enable the business to generate in excess of $2 million EBITDA annually.