Internap (Nasdaq: INAP) is buying IWeb for $145 million.
Montreal, Canada-based IWeb provides web hosting services in English, French and Spanish. Internap expects the deal to expand its reach globally.
Internap, headquartered in Atlanta, provides cloud and web hosting services that aim to help eople manage information technology infrastructure.
“Internap’s acquisition of iWeb speaks to several trends at the front of the IT infrastructure landscape today. The first is the continuing trend of acquisition and consolidation among infrastructure providers. Internap is gaining a new geographic foothold by acquiring a business that it understands very well in iWeb,” says Carl Brooks, analyst, infrastructure services at 451 Research, in a statement.
In October, GoDaddy Operating Co. bought two companies that also provide web hosting and cloud services.
Jefferies acted as Internap's financial adviser for the deal.