NEW YORK – Cloud Equity Group announced today that it has completed the acquisition of all hosting companies from Conseev, a software development company that has been acquiring and consolidating web hosting companies since 2011. The Conssev hosting companies will continue to be run by their current management team. The financial terms of the private transaction, which closed on July 14, 2020, were not disclosed.
Founded in 2011, the Conseev hosting company offers subscribers worldwide services from 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 long-term tailwinds in the hosting sector and look forward to working with Juan and his team to continue building an international conglomerate with real economies of scale and a differentiated value proposition for its customers," said Sean Frank, Managing Partner at Cloud Equity Group.
“As an 8 year old web hosting veteran, I am very excited about what the Cloud Equity Group can bring to the table. It is rare to find a group that offers the advantages of a larger organization (more resources and a larger network) without the usual disadvantages of rigorous horizontal integration, ”said Juan Costa. Chief Operating Officer of the Conseev hosting company.
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.
Conseev was founded with the idea of optimizing the process of creating, starting and operating SaaS or web-based service companies. Conseev is partly an incubator, partly a contract house and partly something completely different and brings stability to the always turbulent phase of the company foundation.
About the Cloud Equity Group
The Cloud Equity Group is a strategically positioned investment management firm that benefits from the rapidly growing web hosting and cloud-based infrastructure industries. The company's primary focus is on harnessing investor capital in acquiring lower-middle-class private companies that have high free cash flow with no leverage and / or significant opportunities for exponential growth.