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Acquisitions fuel Claranet revenue growth

The managed hosted player has reported decent improvements in revenue thanks in part to the acquisitions it made over the course of its last fiscal year

Managed hosting specialist Claranet has enjoyed a decent double digit rise in revenues thanks largely to the acquisitions it has made in the past 18 months.

The firm announced full year results to 30 June with Group revenues reaching £321.6m, which was up from £216.5m reported for fiscal 2017.

That last financial year has seen the firm pick up hosting infrastructure player Union Solutions in April, to extend its depth of Azure services. Claranet also integrated the Sec-1, Oxalide, and ITEN Solutions acquisitions, which were made in May last year.

Those four deals influenced the latest results but there have been further additions made by the firm in its fiscal 19, with security and penetration player NotSoSecure, Italian DevOps specialist Xpeppers, and Dutch IT services provider Quinfox all being added since July.

Charles Nasser, Founder and CEO of Claranet, said that the growth had come as a result of moves it made to position itself as a leader in the provision of cloud services.

"This is a result of the progress we’ve made to consolidate our presence in the markets in which we operate and strengthen our service portfolio. Claranet continues to innovate and the investments we have made in our capabilities, staff, and partners over the past year will ensure that we can continue to design, migrate, run, and support our customers’ broad range of infrastructure and applications on any public, private, or hybrid cloud environment," he said.

He added that the prospects for the next fiscal year were also looking bright, given its recent moves to add muscle to its security offerings.

"“Our strategy has also seen us make significant in-roads into the rapidly growing IT security market, which we believe is a huge opportunity for the business. By combining the ethical hacking, penetration testing, managed security services, and training expertise of Sec-1 and NotSoSecure in our dedicated Cyber Security unit, we have a strong platform on which we can pursue further growth and break into new markets,” he added.

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