Node4 buys app developer and cloud purveyor Reconnix
Open source, clouds? We've heard of these, says boss
Lloyds Development Capital-backed Node4 has snapped up non-proprietary application development and professional services outfit Reconnix.
The bolt-on buy of the Newark-based minnow will serve as the open source division for Node4, which provides co-location from four DCs that it operates, and managed tech and comms services to SMEs.
Steve Nice, CEO and cofounder at Reconnix will transfer with the business as head of open source, and thirty techies and engineers will follow him.
Node4 boss Andrew Gilbert, said the acquisition gives it access to app development, operations management and infrastructure management, “three key areas that will be critical to our future success”.
Open source cloud is an area interesting customers and a bunch of vendors are already behind the Open Stack movement.
Terms of the sale were not revealed, but given the size of Reconnix it is unlikely the figure will have broken the bank. In the year to 2014, it filed abbreviated accounts showing net asset of £602k.
LDC backed an MBO at Node4 in 2013 and since then the tech supplier has acquired cloud infrastructure provider LETN Solutions for an undisclosed sum (August last year).
Turnover at Node4 for the year ended 31 March 2014 grew to £14.92m, from £13.37m in the prior 12 months, and after admin costs and tax was accounted for, net profit reached £2.4m, up from £1.67m. ®