Cloud Fairness Group completes acquisition of internet hosting manufacturers from Conseev
Investment management company Cloud Equity GroupThe New York-based company has completed the acquisition of all Web hosting Company owned by Conseev. Conseev is a software development company that has been acquiring and consolidating web hosting companies since 2011. The Conseev hosting companies will continue to be run by their current management team.
"We firmly believe in the long-term tailwind in the hosting sector," said Sean Frank, managing partner at Cloud Equity Group.
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. The financial terms of this private transaction were not disclosed.
"As an 8-year web hosting veteran, I am very excited about what the Cloud Equity Group can bring to the table," he said Juan Costa, Chief Operating Officer of the Conseev hosting company. "It is rare to find a group that offers the benefits of a larger organization (more resources and a larger network) without the usual drawbacks of tight horizontal integration."
Web hosting, scaling advantages
Founded in 2011, the Conseev hosting company offer service to subscribers worldwide from these 11 different hosting brands through an international presence in over 30 countries. The company has grown into a diversified provider of web hosting services both organically and through acquisition.
"We firmly believe in the long term tailwind in the hosting sector," he said Sean Frank, Managing Partner at Cloud Equity Group. "We are excited to work with Juan and his team to continue building an international conglomerate with real economies of scale and a differentiated value proposition for our customers."
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