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InterCloud Systems to Buy Backup Services Provider VaultLogix

March 24, 2014 - News
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**Editor's Note: Please click here for a recap of the biggest channel-impacting mergers in Q4 2013.**

Cloud and managed services provider InterCloud Systems Inc. plans to buy back-up services provider VaultLogix.

Financial terms of the deal were not disclosed. InterCloud did say that VaultLogix shows more than $12 million in annual recurring revenue. VaultLogix serves about 10,000 businesses worldwide, providing encryption, block-level data duplication and compression for servers, laptops and PCs.

VaultLogix also brings an extensive partner program and its own intellectual property to InterCloud.

"We will continue to broaden our cloud portfolio and differentiate ourselves from our competitors," said Mark Munro, CEO of InterCloud.

Tim Hannibal, CEO of VaultLogix, agreed.

"As the managed services industry evolves, customers are looking toward a single vendor for multiple cloud services," he said. "InterCloud's wide range of cloud services such as IaaS, virtual desktop, hosted Exchange, disaster recovery in the cloud and file sharing are highly complementary to the VaultLogix cloud backup service."

The companies expect the transaction to close in the next 60 days.

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