Cloud application services provider Velocity Technology Solutions recently acquired velos-IT, an IT organization that offers managed services, hosting, and consulting to medium- and large-scale European businesses. The financial terms of the deal were not disclosed.

Velocity CEO Tom Bruno said in a prepared statement that the two companies share a similar outlook on customer service and technology innovation. The acquisition assists the company with expanding its services footprint on the global level, while expanding its cloud services offering by including Oracle (NASDAQ: ORCL) E-Business suite.

"We are excited to serve the European market and enthusiastically welcome the entire velos-IT team into the Velocity family," he added.

velos-IT offers 24/7 support of business applications and IT infrastructure, systems integration, application deployment, upgrades, and custom software development throughout 25 different companies and does business with mid-market companies across various industries. The company currently has around 100 employees in its location in Glasgow, Scotland.

"We are excited by the opportunity to leverage the knowledge and technical expertise of Velocity and velos-IT across the expanse of Universal Cloud Services and extend a compelling offering for our current and future customers," said velos-IT founder and Managing Director Jim McInnes. "This is fantastic news for both velos-IT customers and employees alike." McInnes was appointed as Velocity's general manager for Europe.

Velocity offers a channel partner program businesses interested in a partner opportunity with the company.