Cloud and IP services provider
Inabox Group Limited (Inabox) has acquired cloud company Hostworks. Inabox, which has headquarters in Sydney, New South Wales, Australia, is “a leading supplier of next generation IT, cloud and IP telephony services”. The company was established in 2003 and listed on the Australian stock market. Its services extend to business ethernet, IP voice services, fixed voice, mobile, connectivity, cloud, managed IT services, and Infrastructure-as- a-Service (IAAS) options. Inabox’s acquisition of Hostworks was reported to have cost the company around AU$7 million ($5,375,300).
Hostworks, which has headquarters in Chatswood, New South Wales, Australia, was established in 1999. The company specializes in finding digital media solutions for media agencies, commercial enterprises, and government and other organisations. Its wide range of services includes digital and online media solutions, consulting, and enterprise managed cloud. Inabox acquired Hostworks to strengthen its cloud hosting capabilities and “strengthen its position in the South Australian market”. Combined the two organizations are expected to generate AU$119 million ($91.38 million) in the first year after acquisition.
"More and more of the companies we work with are moving towards the cloud to reduce capital expenditure on infrastructure and take advantage of the convenience of cloud services, such as increased scalability and reduced maintenance costs," explained Inabox’s CEO, Damian Kay. "We don't just want to cater for this trend -- we want to be the best at it. That's why we bought Hostworks," he added.
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