Cox Makes Big Cloud Play with RapidScale Acquisition
Cox announced the deal Thursday morning, saying that it has “immediately” bolstered its transport and connectivity capabilities. RapidScale’s cloud solutions include backup, server and desktop.
Cox says its business unit has surpassed $2 billion in annual revenue. Recent years have seen the company develop security capabilities and other IT-based services. It acquired managed network provider Blueprint RF last year.
“Businesses today need a true technology partner to deliver innovation that helps them transform operations, better engage with customers and remain competitive,” said Steve Rowley, executive vice president of Cox Business. “Adding RapidScale to the Cox family grows our business in a strategic manner by improving our cloud platform and enhances our value to business customers, regardless of size or vertical market.”
They did not disclose the financial terms of the acquisition. The deal helps scale the cloud provider, which was founded in 2008. RapidScale in June added Brian Leonard, a former Intelisys executive. IT also upped its security play with a Veeam partnership.
“Joining Cox is an opportunity to continue to innovate and expand our existing products meet businesses IT needs both today and, in the future,” said Randy Jeter, co-founder and chief executive officer, RapidScale. “Cox and RapidScale share a commitment to delivering leading technologies with second-to-none customer service.”
Cox purchased RapidScale, but the acquired company will keep its name and maintain its business objectives.
We’ll have more details from the two companies in the upcoming days.