Lance Wiggs-backed Vibe buys Melbourne firm RackCentral
NZ's Vibe Communications has acquired Melbourne-based cloud-hosting outfit RackCentral.
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NZ’s Vibe Communications has acquired Melbourne-based cloud-hosting outfit RackCentral.
Vibe is 25% owned by the Punakaiki Fund, managed by Lance Wiggs Capital Management.
Earlier today, Punakaiki opened a crowdfunded equity round on Snowball Effect. It hopes to raise up to $2 million.
Mr Wiggs said terms of the RackCentral deal were under non-disclosure.
The most he would offer is that Punakaiki’s two largest investments, Vibe (a boutique telco) and Onceit (which “delivers fashion to your door) are profitable and had combined 2015 financial year revenue of $10 million – a $3 million increase over last year, with the same increase expected for 2016. He would not break out numbers for each company.
RackCentral provides co-location, hosting and virtual servers.
“We have shown significant growth in New Zealand and Australia through our IP transit, International Layer 2, Access Wholesale and VOIP portfolios and our appetite for growth means we had to look beyond our core business,” Vibe chief executive Rudi Hefer says.
“RackCentral plays a unique role in Australia, providing customers with co-location, virtual private servers (VPS), self-managed cloud hosting and physical server hosting on month to month contractual terms, meaning that it generates customer loyalty though service quality and technical capability rather than term contracts.”
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Lance Wiggs-backed Vibe buys Melbourne firm RackCentral
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