Global technology services provider Claranet has announced a 49% increase in turnover in 2018, with the firm attributing its success to both organic growth and recent strategic acquisitions.
For the year ending 30th June 2018, Claranet saw revenues climb to £321.6 million, up from the £216.5 million it posted for FY17, while Adjusted EBITDA grew 29% to £50 million. Additionally, further transactions during the first quarter of FY19 have contributed to an annualised run rate for FY19 of £350 million.
"The growth that we have seen over the past financial year is exceptional," said Charles Nasser, founder and CEO of Claranet. "This is a result of the progress we've made to consolidate our presence in the markets in which we operate and strengthen our service portfolio."
In April 2018, Claranet acquired UK-based hosting infrastructure services company Union Solutions, providing a shot in the arm for its hosting transformation and Azure capabilities. The period also saw the firm maintain its focus on integrating the May 2017 purchases of Sec-1, Oxalide and ITEN Solutions.
"Claranet continues to innovate and the investments we have made in our capabilities, staff, and partners over the past year will ensure that we can continue to design, migrate, run, and support our customers' broad range of infrastructure and applications on any public, private, or hybrid cloud environment," Nasser continued.
"This is a key differentiator for the business and will enable us to continue to help our customers to get the best out of cloud services."
Claranet has also further expanded its portfolio since July 2018, acquiring security training and penetration testing firm NotSoSecure, Italian DevOps specialist Xpeppers, as well as Dutch IT services provider Quinfox. As a result of the additions, the company's first quarter run rate revenue for FY19 stands at £350 million per year, Claranet revealed.
"Our strategy has also seen us make significant in-roads into the rapidly growing IT security market, which we believe is a huge opportunity for the business," Nasser said. "By combining the ethical hacking, penetration testing, managed security services, and training expertise of Sec-1 and NotSoSecure in our dedicated Cyber Security unit, we have a strong platform on which we can pursue further growth and break into new markets."
Moving forward, Claranet said it "continues to deepen its partnership capabilities" with AWS, Microsoft and Google. The company has also recently diversified its services portfolio with the launch of a new Cyber Security Unit.
