Melbourne IT agreed to acquire the third largest Australian based cloud services provider Uber Global for $15.5 million AU (approximately $12.2 million USD) which also owns a ICANN Accredited domain name registrar.
The deal, is expected to be complete by April 30, 2015
Melbourne IT reported the acquisition along with its 2014 financial results yesterday
Uber Global, says that it is the country’s third largest cloud provider, and counts 110,000 customers altogether.
Uber Global operates the brands Uber Enterprise, Uber Wholesale, ilisys Web Hosting, and SmartyHost.
The acquisition is being funded out of existing cash reserves of Melbourne IT.
The company reported that for its financial year of 2014 revenue was up 21%, to AU $124.7 million and its net profit after tax rose 27% after normalization for its acquisition of Netregistry.
Melbourne IT purchased Netregistry for over $50 million AU in early 2014.
However, the company’s profit after tax from continuing operations was down by 89.5% for the year, to AU$648,000.
For the year ending 2013, the company reported AU$6.2 million in profit from continuing operations.
NetRegistry, which Melbourne IT acquired in March 2014, contributed revenue of AU$25.3 million, with net profit after tax for the business of AU$1.6 million.
Melbourne IT, sold off its corporate domain name and online brand services divisions to CSC in 2013.