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).