Claranet records strong growth in FY18 with 49% increase in global revenue

Organic growth and strategic acquisitions drive Claranet’s turnover to £321.6m for the year ended 30 June 2018, with a first quarter annualised run rate for FY19 of £350m.

Claranet, the global technology services provider, has released financial results for the year ended 30 June 2018, revealing a 49 per cent increase in turnover. A combination of organic and acquisitive growth saw Claranet Group’s revenues reach £321.6 million, up from £216.5 million in FY17, while Adjusted EBITDA hit £50 million, representing an increase of 29 per cent.

The Group’s ambitious growth strategy saw it acquire UK-based hosting infrastructure services company, Union Solutions in April 2018, further boosting its hosting transformation and Azure capabilities. The company also maintained its focus on integrating the three acquisitions completed in May 2017 (Sec-1, Oxalide, and ITEN Solutions) serving to drive further growth.

In addition, Claranet has made three subsequent acquisitions since July 2018: NotSoSecure, one of the world’s most respected security training and penetration testing firms, Italian DevOps specialist Xpeppers, and Dutch IT services provider Quinfox. Following these transactions its first quarter run rate revenue in FY19 stands at £350 million per year.

Cloud computing services comprise a critical part of the business, with the company positioned as a ‘Leader’ in Gartner’s “Magic Quadrant for Managed Hybrid Cloud Hosting, Europe” for five years running from 2013 until the final year of this Magic Quadrant in 2017. Moving ahead, Claranet continues to deepen its partnerships capabilities with AWS, Microsoft, and Google, and has also further diversified its portfolio of services recently with the launch of a new Cyber Security unit.

Commenting on Claranet’s performance, Charles Nasser, Founder and CEO of Claranet, said:

The growth that we have seen over the past financial year is exceptional. 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. 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. 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."

Charles concluded:

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. 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."

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