The web hosting company, Miss Group announced the acquisition of Sweden’s largest managed hosting company specializing in Linux, Cloudnet. Cloudnet, established in 2010 and headquartered in Stockholm, currently has 500 SME customers, most of which are located in Sweden. the company reported revenues of approximately $2.5 million.
500 SME customers
Cloudnet will join Miss Group’s team, adding to its customer base with the acquisition. After the acquisition, Cloudnet’s co-founders Magnus and Anders will leave the company, with day-to-day management transitioning to Miss Group’s established management team in Sweden.
The private equity business, Perwyn acquired a majority position in Miss Group in February 2020 to support the growth ambitions of the company through international expansion. CloudNet takes the total number of acquisitions completed under Perwyn ownership to ten, and the total number of acquisitions completed by Miss Group since 2018 to 19. Fredrik Björklund, co-founder and CEO of Miss Group said,
« Cloudnet has established a fantastic reputation in the Swedish market, not only for its knowledge base and expertise but also for its customer service-led approach to supporting SME customers as their businesses grow. This is an approach that resonates with Miss Group’s own customer service-oriented model and where Cloudnet’s expertise will complement our offering. As part of Miss Group, Cloudnet will have unrivalled access to our international network of technical expertise, as well as a leading range of products and services to offer its customers.
We have established a healthy acquisition pipeline for 2022 that will continue to accelerate our international growth, as well as adding new products and services to our portfolio that will further strengthen our offer of providing best-in-class web services and support to help SME businesses expand their global reach. »