NEW YORK, Aug. 24, 2020 /PRNewswire-PRWeb/ -- Cloud Equity Group today announced it has completed its acquisition of all hosting companies owned by Conseev, a software development firm that has been acquiring and consolidating web hosting companies since 2011. The Conssev hosting companies will continue to be led by its current management team. Financial terms of the private transaction, which was completed on July 14, 2020, were not disclosed.
Founded in 2011, the Conseev hosting companies provide service to subscribers worldwide from 11 distinct hosting brands through an international footprint spanning over 30 countries. The company has grown both organically and by acquisition to become a diversified provider of web hosting services.
"We believe strongly in the long-term growth tailwinds around the hosting sector, and are excited to partner with Juan and his team to continue to build an international conglomerate with real scale advantages and a differentiated value proposition for its customers," said Sean Frank, a Managing Partner at Cloud Equity Group.
"As an 8-year web hosting veteran, I'm very enthusiastic about what Cloud Equity Group can bring to the table. It's rare to find a group that provides the benefits of belonging to a larger organization (more resources and larger network) without the usual downsides of strict horizontal integration" said Juan Costa. Chief Operating Officer of the Conseev hosting companies.
The Conseev hosting companies acquired as part of this single transaction include IQNect Hosting, Cloak Hosting, VPSCheap, tmzVPS, EasySEOHost, Idologic Networks, The Prime Host, Service Site Hosting, PureSpeed Hosting, Web Weaver Elite Web Hosting, and TechArk Internet Services.
About Conseev
Conseev was founded with one idea in mind: to streamline the process of creating, launching, and operating SaaS or web-based service businesses. Part incubator, part contract house, and part something else entirely, Conseev brings stability to the always-turbulent phase of starting new businesses.
About Cloud Equity Group
Cloud Equity Group is a strategically positioned investment management firm capitalizing on the rapidly expanding industries of web hosting and cloud-based infrastructure. The company's primary focus is leveraging investor capital in the acquisition of private lower middle market companies that possess high levels of unlevered free cash flow and/or significant opportunity for exponential growth.
SOURCE Cloud Equity Group
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