Claranet reaches for the Star with £55m acquisition
Multimillion pound deal will boost managed services provider's revenue to £120 million
Cloud services provider Claranet has acquired hosting provider Star in a deal valued at £55 million.
The purchase creates, what Claranet claims is, the largest mid-market provider of integrated hosting and network services in the UK and continental Europe.
Upon completion, STH and its subsidiary Star Technology Services will be fully owned by Claranet, but will be maintained as separate trading entities.
Both Claranet and Star offer managed hosting and network services, however the acquisition will give Star customers access to Claranet’s pan-European infrastructure-as-a-service (IaaS) offering, virtual datacentre and managed application hosting services.
Claranet’s customers, meanwhile, will benefit from Star’s strength in unified communications, remote desktop and advanced security services.
The expanded company will have revenues of over £120 million, approximately 700 staff and more than 4,500 customers, with operations in the France, Germany, the Netherlands, Spain and Portugal, as well as the UK.
Michel Robert, managing director of Claranet UK, said: “Star is a leader in providing managed services in the UK and therefore a natural fit for Claranet. [The company] has developed a strong base of customers, a well-defined service portfolio as well as a talented and dedicated team.”
Ben White, co-founder of Star, added: “The cultural and strategic compatibility of the two businesses is second to none and I am confident that the enlarged group will go on to even greater things, creating significant opportunities for customers, partners and staff.”