Claranet CEO: cloud providers to consolidate around midmarket

Charles Nasser, CEO at expansive MSP Claranet forecasts consolidation in the cloud services market after booking 50% year-on-year growth across Europe

Claranet CEO Charles Nasser has been setting out his vision of the short-term future of the European cloud services market.

Speaking following following the announcement of Claranet’s full year financial results, Nasser said: “We are seeing a rapidly maturing cloud services market that is consolidating towards a smaller number of regional players at the midmarket level.”

In a signal that Claranet may look to acquire to keep skin in the game, Nasser said that strong growth during the past 12 months had been underpinned by the successful integration of a number of acquisitions, including UK-based Star and French player Typhon.

“Our plans are ambitious and as we look ahead into 2014, we expect the year to be one of further rapid growth and expansion for us,” said Nasser.

The MSP revealed it grew annual sales across Europe by 47% to £103m, reflecting both the growing strength of the hosted services model and its past acquisitions. Recurring EBITDA on a like-for-like basis increased by 95% year-on-year.

CFO Nigel Fairhurst also noted that contracted future sales at the close of Claranet’s financial year were in excess of £167m, almost double the previous year’s.

"Our rapid growth this year has positioned Claranet as one of the largest independent managed services providers to mid-sized companies in Western Europe,” said Nasser.

“Our business approach ensures that we focus on the long-term future of the business, to benefit our customers and our staff over time. This means that we continue to invest in developing our services and processes as the company grows, and as the needs of our customers evolve,” he concluded.

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