Westcon Group, Inc. acquired the assets from Verecloud, Inc. for $12 million.
September 04, 2014 at 12:00 am EDT
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Westcon Group, Inc. acquired the assets from Verecloud, Inc. (OTCPK:VCLD) for $12 million on September 4, 2014. The acquisition consideration will be settled through the issue of Datatec shares in three tranches, with the first tranche consisting of the allotment of 1,998,831 ordinary ZAR 0.01 shares. The second and third tranches are dependent on a number of conditions and will become payable one and two years after the transaction date, respectively. The platform will be incorporated into Westcon's Cloud Solutions Practice and form the foundation for its cloud go-to-market solution which is designed to help resellers drive significant revenue from cloud-enabled services. Nick Adams and Alex Collins of Jefferies International Limited acted as financial advisor, Frederic Cornet, Bianca Samson, Adrian Duffield and Chantal Woolcock Instinctif Partners acted as public relationship advisor and Tom Jenkins and Henrik Persson of finnCap acted as broker for Datatec Limited (JSE:DTC).
Westcon Group, Inc. completed the acquisition of assets from Verecloud, Inc. (OTCPK:VCLD) on September 4, 2014.
Black Mesa Holdings, Inc., formerly Verecloud, Inc., is engaged in distributing cloud-based applications. The Company offers cloud solutions for categories, including backup and disaster recovery, collaboration, infrastructure and security. For backup and disaster recovery, the Company offers applications, such as Infinidisc and MozyPro Data Backup. For collaboration, the Company offers applications, such as GlobalMeet, Hosted Microsoft Exchange 2010 SP2, Microsoft Dynamics CRM 4.0 and Microsoft SharePoint. For infrastructure, the Company offers Softlayer, which allows deploying on-demand computing instances. For security, the Company offers applications, such as InterGuard Threat Prevention and MaaS360 Mobile Device Management. The Company offers pre-integrated, distribution-ready cloud services that can be offered through the Verecloud partner network.