Home Industry Listed Tech Bulletproof's million-dollar deal for Cloud House

Cloud services provider Bulletproof will acquire the business assets of Cloud House, New Zealand's largest AWS Advanced Consulting partner.

Bulletproof is following up its acquisitions of Panthacorp and Infoplex with an agreement to purchase the business assets of Cloud House for NZ$1 million cash upfront, plus up to NZ$4.2 million (half in cash, half in Bulletproof shares) contingent on meeting targets for increased profit and revenue over the next three half-years.

The Cloud House business yields approximately NZ$3.5 million in annualised revenue.

The owners of Cloud House will also transition to become part of the Bulletproof management team.

"We have been working with the outstanding team at Cloud House on a number of partnered opportunities for some time and we have always been impressed with the innovative, customer-focused capabilities of the Cloud House team," said Bulletproof CEO Anthony Woodward.

"With great cultural alignment between the organisations already demonstrated, we believe the Cloud House team will feel at home within the wider Bulletproof Group and we're excited to welcome them aboard."

Cloud House co-founder and CEO Scott Judson, said "The acquisition brings to New Zealand the first AWS Premier Partner, making us one of only eight top tier AWS Partners in Asia Pacific.

"We have instant access to the Bulletproof market-leading managed services platform and many other resources we can leverage. And the cultural alignment between Bulletproof and Cloud House couldn't be better."

No explanation was given about Bulletproof's decision to acquire Cloud House's business assets rather than the company itself.

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Stephen Withers

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Stephen Withers is one of Australia¹s most experienced IT journalists, having begun his career in the days of 8-bit 'microcomputers'. He covers the gamut from gadgets to enterprise systems. In previous lives he has been an academic, a systems programmer, an IT support manager, and an online services manager. Stephen holds an honours degree in Management Sciences and a PhD in Industrial and Business Studies.

 

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