PEER 1 Hosting has today announced its acquisition of UK managed hosting firm NetBenefit for £25m.
NetBenefit reported revenues of £7m in 2011 and has operations in UK and France serving approximately 700 customers.
The acquisition positions PEER 1 Hosting as the number two provider of SME Managed Hosting services in the UK and creates a platform to support their growth in Europe. In the last 12 months, PEER 1 Hosting grew annualised run-rate revenues by 100 percent in EMEA.
“This deal strengthens our position as a full solution provider in the UK, which sees us now become a compliant PCI Data Security Standard (PCI DSS) Level 1 provider, with a datacentre in London for customers demanding low-latency hosting,” explains Dominic Monkhouse, managing director EMEA of PEER 1 Hosting. “NetBenefit’s presence in France also allows us to extend our outstanding customer experience into Europe.”
PEER 1 Hosting reckons the integration of NetBenefit’s two datacentres in to its high performance ‘FastFiber Network’ will create significant opportunities for additional peering and transit service revenues. As part of the agreement, NetBenefit’s parent company, Group NBT, will become a direct customer of PEER1 Hosting.
