June 7, 2012 – (HOSTSEARCH.COM) –
PEER 1 Hosting has agreed to acquire the outstanding shares of UK-based managed hosting company
NetBenefit Limited in a deal worth $38.5 million.
The acquisition from global web hosting providers PEER 1 will look to strengthen their position in the UK and aid their growth in the European markets.
NetBenefit, who will receive the payment in cash, is forecast to approximately secure around $12.5 million in revenue for the fiscal year ending June 30, 2012 and has operations which serve near to 700 customers through the UK and France.
Dominic Monkhouse, Managing Director at PEER 1 emphasized the importance of the capture for his company, following their agreement with NetBenefit which was announced this week.
"This deal strengthens our position as a full solution provider in the UK, which sees us now become a compliant PCI Data Security Standard (PCI DSS) Level 1 provider with a datacenter in London for customers demanding low latency hosting,” he commented.
The web hosting providers grew annualized run-rate revenues by 100% in EMEA over the last 12 months and the integration of their FastFiber Network into NetBenefits existing datacenters will, according to PEER 1, “create significant opportunities for additional peering and transit service revenues.”
Following the agreement, it was also announced that the owners of NetBenefit, Group NBT, will become a direct customer of PEER1 Hosting, which according to Chief Executive Gary Mcllraith, will bring benefits to their existing customers.
"The breadth and scale of their cloud offering will bring increased choice for our loyal customer base. We are 100% confident that this is good news for us, our customers and staff," he said. "PEER 1 Hosting has a great reputation for customer service and as an outstanding employer."
About PEER 1 Hosting
PEER 1 Hosting is one of the world's leading web hosting providers. The company is built on two obsessions: Ping & People. Ping, represents its commitment to best-in-breed technology, founded on a high performance 10Gbps FastFiber Network connected by 18 state-of-the-art datacenters, 22 points-of-presence and 10 colocation facilities throughout North America and Europe. People, represents its commitment to delivering outstanding customer service to over 12,000 customers worldwide, backed by a 100 percent uptime guarantee and 24x7x365 FirstCall Support. PEER 1 Hosting's portfolio includes Managed Hosting, Colocation and Dedicated Servers under the ServerBeach brand, and Cloud Services through Zunicore. Founded in 1999, the company is headquartered in Vancouver, Canada, with European operations headquartered in Southampton, UK. PEER 1 Hosting shares are traded on the TSX under the symbol PIX.
About NetBenefit
Established in 1995, NetBenefit is one of the UK's most experienced managed hosting companies. They specialize in providing tailored managed hosting solutions that deliver security, resilience and online performance for business critical websites, applications and online advertising campaigns.
