Interoute acquires Easynet for £402m

Global cloud services platform Interoute has acquired Easynet, a Europe-based services provider, for £402 million in a new deal that will see the firm expand its networked cloud and communications services internationally.

Following the acquisition, Interoute and Easynet customers will have access to a combined set of services and products from both companies.

Gareth Williams, Interoute's CEO, said: "These exciting times for Interoute and our customers as we create a leading, independent European ICT provider. It's the next step in our acquisition strategy and moves us much closer to our goal of being the provider of choice to Europe's digital economy."

Interoute's customers include UEFA, the European Space Agency, SCA and Saxo Bank, as well as global telecommunications operators and internet content providers, with Easynet to bring a client base that includes global enterprises, national clients and public sector entities.

"I believe this acquisition will bring great benefits to both Interoute's and Easynet's customers," said Mark Thompson, CEO of Easynet. "The combined companies can offer broader and deeper connectivity options, as well as an expanded portfolio of products and services, and the acquisition will further expand an already market-leading cloud hosting capability in Europe."

Earlier this year, Aleph Capital Partners and Crestview Partners purchased a 30 per cent share in Interoute as part of a commitment to boost its presence and offerings for UK businesses. At the time, Interoute CEO Williams spoke about the company's aspirations to more than double its revenues over the next five years.