This week, United Internet, the parent company of Sedo and 1and1.com, announced that it has acquired hosting solutions provider Strato. The deal was closed at $629 million.
Ralph Dommermuth, CEO of United Internet said :
The acquisition of Strato will enable us to expand our leading market position in the European hosting and cloud application business and drive the consolidation of a market which is currently still strongly fragmented.
In future we will offer our customers products and services with even greater performance.
Strato is based in Berlin with operations mainly in Germany and the Netherlands and over 2 million customer contracts. Strato’s annual revenue for fiscal year 2016 is forecasted to be around EUR 127 million.
Dr. Christian Böing, CEO of Strato said :
We are delighted by United Internet’s investment. The cultures of the two companies fit perfectly together.
We will use the resulting potential and synergies from the combination to drive growth in the hosting market and offer our customers even better products.