Velocity Announces Acquisition of Global Cloud Hosting Company Titan Technology Partners
April 01, 2014 --
NEW YORK, NY -- (Marketwired) -- 04/01/14 -- Velocity Technology Solutions, Inc. (Velocity), a leader in cloud application hosting for enterprise and business software, today announced the acquisition of Titan Technology Partners, Limited (Titan), a Charlotte, North Carolina-based provider of global cloud hosting and managed services, business process outsourcing (BPO) and consulting services.
The acquisition expands Velocity's offerings to include support for SAP and Oracle's PeopleSoft suites, and strengthens the company's presence in Oracle's JD Edwards and E-Business Suite markets. Velocity now supports applications from each of the top enterprise software vendors, offering customers extensive flexibility in the applications they choose to run in Velocity's virtual private cloud. The acquisition also expands Velocity's global footprint in North America, Europe and Asia. Revenue for the combined companies will total more than US$150 million worldwide.
Titan serves Fortune 500 and midmarket organizations in North America, Europe and Asia and maintains offices in Charlotte, North Carolina; Nashville, Tennessee; London, England; Pune, India; and Singapore. Founded in 1998, Titan has extensive functional and operational experience with hosting and supporting mission critical business systems for its customers. This merger will expand the services and technology available to Titan's customers to include Velocity's Universal Cloud Services, Velocity's cloud management platform (Velocity Zoom), and Managed Disaster Recovery Services.
"Cloud is evolving beyond infrastructure hosting and towards a full spectrum of business management solutions," said Tom Bruno, CEO of Velocity. "Titan's wealth of business process and application expertise is a great complement to Velocity's hosting capabilities, advanced cloud management tools, and ground-breaking application usage analytics. Building on a landmark year of growth, we are raising the bar on important topics such as business productivity and performance, resilience, security, and operational transparency for enterprise applications hosted in the cloud. We welcome Titan's customers and employees and look forward to providing the combined breadth and depth of services to our collective customers and the marketplace."
Titan marks the third acquisition for Velocity in the past 12 months as the company strengthens its enterprise and business applications services to include combined onshore / offshore support and resources. Velocity will gain added capabilities within its existing Oracle platform offerings, including E-Business Suite, Hyperion, JD Edwards and Fusion. Further, the organization will expand its services to incorporate SAP and Oracle PeopleSoft platforms. The integration of these competencies will provide Velocity customers with access to an even broader portfolio of services across applications and geographies.
As a result of the acquisition, Michael Vadini, CEO of Titan, will be joining as President of the Titan Division of Velocity. In addition, Velocity will integrate Titan's senior leadership team and employee base, which has served in the application service provider space for over a decade and offers a wealth of experience in the cloud services, BPO, and enterprise resource planning categories. Velocity now has more than 750 employees worldwide.
"We are proud to be a part of a growing Velocity organization that continues to bring both innovation and value to its customers," said Vadini. "Velocity is a trusted partner in cloud application hosting, and we are excited to be a part of the company's efforts to bring Universal Cloud Services and a comprehensive suite of cloud management tools to the marketplace."
Velocity and Titan are privately held. Financial terms of the deal were not disclosed.
Velocity Technology Solutions, Inc. is a leader in enterprise and business application hosting services which are fully-managed and protected within a virtual private cloud. Velocity lowers operational costs, provides world-class customer experiences, and delivers application access at top levels of performance and availability. Velocity's expertise managing software 24/7, combined with its proprietary infrastructure design and cloud management platform, guarantee the availability, security, and control over software. Velocity is the trusted partner for rapidly deploying application software into a secure and resilient virtual private cloud.
Velocity is headquartered in New York with facilities in North America, Europe, and Asia. Velocity is a portfolio company of Silver Lake Sumeru, a global leader in private equity investments in growth-oriented technology and technology-enabled companies (for additional information on the firm and its entire portfolio, visit www.silverlake.com). For more information on Velocity: visit www.velocity.cc.
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