Evolve IP is expanding cloud services with the acquisition of APT Inc. for an undisclosed amount.

APT, headquartered in Allentown, Pennsylvania, implements and manages a range of business-level cloud computing services.

Wayne, Pennsylvania-based Evolve provides cloud services to the health care, legal, insurance, pharmaceutical, banking, technology, travel, veterinary medicine and retail sectors. The company developed a service called OneCloud that allows users to move multiple cloud-based offerings, such as virtual data centers or virtual desktops, into one place.

Evolve is backed by more than $55 million in venture and debt capital from investors including Herb Lotman, Ira Lubert, Michael Forman, Michael Peterson, Peter Peterson and Thomas Gravina. The company has made several other acquisitions: Paragraid in 2013; Ipiphany in 2012; Teleq Network Solutions in 2010; and Lyrio in 2008. 

Cloud-based services have been attracting buyers, and Mergers & Acquisition is predicting even more deals for cloud-software companies in 2016.

In November, Kelso & Co. closed a deal for Sirius Computers Solutions Inc., a cloud-software and IT product business that the PE firm bought from Thoma Bravo. Before that, Thoma Bravo agreed, with Silver Lake Partners, to buy cloud software business SolarWinds Inc. (NYSE: SWI).

For more on buyer interest in cloud technology, see Thoma Bravo & Others Bet Big on the Cloud and Plugging Into Software.

Subscribe Now

Complete access to real-time information and analysis of news and trends in the industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.