Tuesday, January 30, 2018

INAP to acquire SingleHop for $132 million

Internap, which provides high-performance internet infrastructure including colocation, managed services and hosting, cloud and high-performance network services, agreed to acquire SingleHop, private company headquartered in Chicago, Illinois for $132 million in cash.

SingleHop is a managed hosting and infrastructure as a service (IaaS) provider offering automated and on-demand IT infrastructure.

“The INAP turnaround strategy includes restoring top-line organic revenue growth while leveraging smart tuck-in acquisitions to accelerate that growth,” stated Peter D. Aquino, President & CEO of INAP. “Today we announce significant progress on both fronts: We are reporting a positive outlook for 4Q 2017 revenue, which is up sequentially, and we are ahead of turnaround expectations. We are also pleased to announce the signing of an agreement to acquire SingleHop and welcome their customers and employees to the INAP family. We are very excited about partnering with Zak Boca and his experienced team to integrate their advanced platform into INAP. The combined impact of our sales and operational improvements, and the momentum of SingleHop’s success, is expected to be a catalyst for growth in 2018.”