February 5, 2010 – (HOSTSEARCH.COM) –
Layered Technologies, Inc. (Layered Tech), a leading worldwide provider of on-demand and cloud computing IT infrastructure, today announced that it has received a growth equity investment provided by a group of investors led by
Accel-KKR, a technology-focused private equity investment firm. Layered Tech’s two primary existing investors, Enhanced Equity Fund, L.P., and Pangloss International, also participated.
The investment will be used to fund continued growth and expansion of Layered Tech’s industry-leading managed services, cloud computing and virtualization product offerings, as well as to further capitalize the business to support its existing customer base.
Founded in 2004, Layered Tech is a leading global provider of managed dedicated hosting, on-demand virtualization/cloud computing and Web services. With eight top-tier data centers around the world, the company’s infrastructure powers millions of Web sites and Internet-enabled applications including e-commerce and software as a service (SaaS). Layered Tech has seen rapid growth in recent years, and in 2009 was ranked in the top 15 percent of Deloitte LLP’s Technology Fast 500, and was also named to the Inc. magazine list of the 5,000 fastest-growing private companies.
"We are very pleased to begin this relationship with Accel-KKR, which is well known for its assistance of technology companies in accelerating their growth while increasing their value to investors and customers alike," said Layered Tech Chairman and CEO Jack Finlayson. "Accel-KKR’s long-term commitment and strong capital base strengthens Layered Tech’s financial foundation. This partnership is key to our ability to grow organically and through aggressive strategic acquisition programs. In addition, this new capital will help us expand operationally, enhance our already robust automation platform, and enable Layered Tech to offer additional benefits to our customers."
Layered Tech Receives Growth Equity Investment Led By Accel-KKR/Page 2
Ben Bisconti, Managing Director of Accel-KKR, said, "The Layered Tech team has rapidly established an impressive managed services, virtualization and cloud computing business, driven by one of the strongest product offerings in the market and superior operational expertise. Jack Finlayson and his team have been building an exceptional company, and we look forward to partnering with them as they continue their strong track record of growing the business. In this challenging economic environment, we believe a well-capitalized business has a competitive advantage in delivering outstanding quality and service to the marketplace; we are excited to be joining existing investors in assuring Layered Tech has all the resources necessary to build on its leadership position and continue to deliver world-class solutions to its customers."
About Accel-KKR
Accel-KKR is a technology-focused private equity firm with over $1 billion in assets under management. The firm invests primarily in software and IT-enabled businesses well positioned for top-line and bottom-line growth. At the core of Accel-KKR's investment strategy is a commitment to developing strong partnerships with the management teams of its portfolio companies and a focus on building value through the significant resources available through the Accel-KKR network. Accel-KKR has a particular focus on buyouts and recapitalizations of family-owned or closely-held private companies, going-private transactions and divisional buyouts of larger companies.
About Layered Technologies
Layered Technologies is a leading global provider of managed dedicated hosting, on-demand virtualization/cloud computing and Web services. By providing high-quality technology, infrastructure and support, Layered Tech enables customers to eliminate capital expenses and save on operating costs while focusing on core business issues. Layered Tech’s scalable infrastructure powers millions of sites and Internet-enabled applications including e-commerce and software as a service (SaaS). Our clients range from leading-edge Web 2.0 startups, successful mid-sized enterprises and some of the world’s largest consultancy and integration firms.
