Cloud services company Evolve IP has acquired Paragrid, a Midwest U.S. cloud computing company, to continue its push for nationwide expansion. The financial details of the deal were not disclosed.
Evolve IP co-founder and CEO Thomas J. Gravina co-founded the company back in 2007.
The company said Paragrid's product set, which includes services for virtual servers, managed and consulting services, disaster recovery and virtual desktops, complements Evolve IP's cloud-based product portfolio.
Evolve IP COO and General Manager Guy Fardone told Talkin' Cloud that the company "evaluates dozens of companies in an ongoing manner" in its quest for companies to buy.
"This is our fourth acquisition, and we intend to do many more," he said. "Paragrid was selected because of their people, their success in the cloud, in building a substantial customer base with mid- and enterprise-sized customers (Evolve IP’s target market), and their geography in the Midwest region which complements what Evolve IP already has now as part of our national expansion."
While Fardone told us that Evolve IP's sales are mainly direct, he also made note of the company's "nationwide network of approximately 200 partners."
"Paragrid relies mostly on direct sales so this will be an added resource for the company in that we will now have local sales and technical resources available to our channel partners in this region of the country," he said.
Fardone said the company currently has five data centers and seven sales offices across the country, adding that Evolve IP will continue to expand into "many areas in the U.S. and is exploring options abroad."
Evolve IP completed the purchase and customer integration of cloud companies iPiphany and Semperon back in May.