Navisite to acquire cloud provider Velocity

Navisite to acquire cloud provider Velocity

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Navisite has acquired global cloud managed service provider Velocity Technology Solutions, Inc.

Velocity is set to enhance Navisite's service portfolio through the addition of deep enterprise application expertise and a cloud platform that simplifies the migration and management of customer environments across public, private and hybrid clouds.

Navisite is executing its growth strategy with the continued investment support of Madison Dearborn Partners, a private equity investment firm based in Chicago.  

Mark Clayman, CEO of Navisite said, "Organisations need a technology partner that not only offers modern cloud services and expertise to support their digital transformation goals but also is capable of delivering rightsized solutions," said.

"Every step we've taken as a company, including this acquisition, has been focused on being that trusted partner and building a customer-centric portfolio of solutions."

Founded in 2003 and headquartered in Charlotte, North Carolina, with operations in North America, South America, Europe and Asia, Velocity delivers fully managed cloud environments through a portfolio of application-focused cloud managed services and professional services with data analytics.

"With Velocity, we've added significant scale and breadth to our capabilities, global presence, data centres and public cloud expertise to support customers as they navigate the challenges of today and tomorrow across every part of the technology stack—from cloud migration and management to infrastructure, enterprise application and data management services," added Clayman.

The company claim that the Velocity acquisition will also augment Navisite's managed services for Oracle and SAP applications.

Navisite recently announced the acquisition of Dickinson + Associates, a premier SAP Gold Partner.

"We look forward to what we can accomplish together with Navisite," said Steve Kloeblen, CEO of Velocity Technology Solutions.

"With Navisite's resources, global capabilities and complementary expertise, Velocity is positioned to become an even stronger partner for our customers growing and competing in the digital economy.

“Most importantly, our customers can expect greater breadth and depth of services to help them eliminate IT complexity, lower costs associated with monolithic software deployments and migrate and transform their businesses in the cloud."

Stifel, Nicolaus & Company served as Velocity's financial advisor, and Weil, Gotshal & Manges LLP provided legal counsel to Velocity.

Jefferies LLC and TD Securities LLC served as Navisite's financial advisors, and Kirkland & Ellis LLP provided legal counsel to Navisite.

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