December 4, 2018, Ann Arbor, Mich.
ACQUISITION AMPLIFIES ONLINE TECH’S CHANNEL STRATEGY; STRATEGIC PARTNERSHIP OFFERS CUSTOMERS A ROBUST, SECURE PORTFOLIO
Online Tech, a leading provider of secure, compliant private, hybrid and multi-cloud solutions for service providers, channel partners and enterprise organizations, announced that it has acquired the Infrastructure as a Service (IaaS) and data protection assets and products of IT provider Neverfail. The acquisition, which includes Neverfail’s five cloud nodes and assets in North America, Europe and Asia-Pacific, significantly increases Online Tech’s geographic footprint and its ability to serve direct customers while adding tens of thousands of new end-users through extensive channel programs.
As part of the transaction, the two companies have entered into an ongoing strategic partnership in which Online Tech will become Neverfail’s preferred cloud provider for their software solutions. The acquisition and agreement allows Neverfail to focus exclusively on software while partnering with Online Tech to provide the cloud infrastructure for compliant sensitive customers requiring a high level of confidence in their cloud solutions.
In addition, Online Tech will now offer expanded managed services for existing customers and resellers that complement their current cloud, collocation, disaster recovery and security solutions. These include a partner-centric private cloud, enhanced data protection (with offsite backup powered by Veeam®), Neverfail Workspaces virtual desktop service, Neverfail HybriStor™ and Neverfail Continuity Engine.
Neverfail customers will benefit from Online Tech’s proprietary OT Portal single-pane-of-glass portal, allowing for visibility across their entire IT environment. From real-time monitoring to simplified billing administration, clients can find answers for all of their IT needs in one convenient place.
This is the second cloud acquisition in 2018 for Schurz Communications, parent company of Online Tech. The deal represents Schurz Communications’ commitment to growth in the cloud and managed IT services arena and offer greater access to cloud infrastructure with top-rated, 24/7 customer support and a full suite of complementary software services.
“The Neverfail acquisition is an exciting step in Online Tech’s journey of growth. It demonstrates both the commitment and capabilities we have to enable business transformation and the modernization of critical infrastructure around the globe,” said Brad Cheedle, CEO of Online Tech. “With our latest announcement, we are better positioned than ever to earn our place as one of the most respected cloud providers in the world.”
The acquisition extends Online Tech’s reseller and agent programs to include many of the world’s greatest service providers.
“Online Tech was a clear choice when we sought a partner to meet our valued customers’ infrastructure needs moving forward,” said Brian Hierholzer, CEO at Neverfail. “Our software offerings layered atop their resilient and high performing cloud solutions are a winning combination we are confident customers will appreciate.”
All Neverfail infrastructure customers will be seamlessly transitioned to Online Tech for their intellectual property, privacy and compliance needs. All existing Neverfail cloud employees will become employees of Online Tech.
Layer 7 Capital LLC acted as Neverfail’s exclusive financial advisor for the transaction. The terms of the transaction were not disclosed.
About Online Tech
Online Tech is the leader in secure, compliant hybrid and multi-cloud solutions for service providers, channel partners and enterprise organizations. Their industry-leading portal, OTPortal™, enables clients to view and manage all of their IT systems in a single pane of glass. Backed by independent HIPAA, PCI, EU-US Privacy Shield and SOC 2 audits, Online Tech delivers exceptional experiences for businesses seeking a fully managed IT-as-a-service provider. For more information, call 877-740-5028, email firstname.lastname@example.org or visit www.onlinetech.com.
About Schurz Communications Inc.
Schurz Communications Inc. is a family owned corporation that has been helping businesses, communities and individuals make meaningful connections for five generations. The Schurz legacy began in newspaper publishing and today, the company remains committed to making information more accessible through the platforms and technology of the digital age. Schurz Communications’ recent investments include regional broadband companies, global data center solutions providers and digital media and marketing firms. The company’s portfolio further includes daily, weekly and niche publications and multiple minority investments. For more information, visit www.schurz.com.
Neverfail enables IT to meet or exceed service level agreements by providing continuous availability to applications, data and infrastructure. This is done by providing bulletproof-technology, industry-leading experience, and a complete dedication to customer success. For more information on Neverfail solutions, contact the company at 512-600-4300 or visit www.neverfail.com. You can follow Neverfail on Twitter at twitter.com/neverfail.
About Layer 7 Capital
Layer 7 is a boutique investment bank focused on providing advisory services to companies within the Software-as-a-Service (B2B, B2C), Infrastructure-as-a-Service (Data Centers, Hosting, Cloud), Managed Services (Managed Applications, Managed Infrastructure, Managed Network Services, Managed Security, Outsourced IT), Internet-of-Things and Artificial Intelligence / Robotics verticals. Layer 7's advisory services include buyside and sellside M&A, strategic planning, valuation analysis and debt capital placement for sector companies and their current and potential investors.