Gossamer Threads Inc. (GT.net) has announced an acquisition by M/C Partners, a communications and IT services-focused private equity firm based in Boston, MA. Simultaneously, M/C Partners is acquiring Toronto, ON-based Carbon60 Networks Inc., a managed cloud services company, and merging it with Gossamer Threads to create a platform in the Canadian market, the company said.
The combined company will operate under the name Carbon60 Networks.
In addition to providing liquidity for selling shareholders, M/C Partners is investing capital to support organic growth and strategic acquisitions.
Carbon60 was founded in 1999 and Gossamer Threads was founded in 1996. Each company has developed into a well-regarded managed cloud services provider in its respective market with strong technical capability and a commitment to the highest standards of customer service.
The combined company is experiencing success in the burgeoning managed third party cloud space using AWS and Azure and expects to accelerate this category along with its private cloud offerings. In addition, both companies have expertise in application hosting, with a focus on Content Management Systems (CMS) hosting. The combined Carbon60 business will be the dominant CMS hosting provider in Canada.
Current Carbon60 CEO John Witte will continue to lead the company. John is also an investor and Board Member. Alex Krohn, founder and CEO of Gossamer Threads, will continue to have a key role at the company as CTO, in addition to being an investor and Board Member.
Ian Muirhead served as the legal adviser for Gossamer Threads and Blaney McMurtry LLP served as the legal adviser for Carbon60 Networks. Choate, Hall & Stewart LLP and Norton Rose Fulbright LLP served as legal advisers for M/C Partners.
Carbon60 Networks specializes in delivering end-to-end managed hosting solutions for public and private sector organizations with business-critical workloads. Carbon60 provides secure and high-performance hosting services using its Canadian cloud platform in Toronto and Kelowna and the hyperscale clouds for hybrid IT solutions. For more information, visit www.carbon60.com.
Gossamer Threads provides performance hosting options (dedicated, clustered, private cloud) and application hosting solutions that come standard with high value managed services like optimization testing, monitoring, security, back-up and restoration. For more information, visit www.gt.net.
Based in Boston, M/C Partners is a private equity firm focused exclusively on the communications, information technology services and media sectors. The firm has invested over USD 2.2 billion of capital into nearly 100 companies, generally investing in companies with enterprise values of USD 25 million to USD 250 million. Related current and prior investments include Cavalier Telephone, Ensono, Everstream, Fusepoint, Denovo, ICG Communications, Involta, Lightower, NuVox, Thrive Networks and Zayo Group. For more information, visit www.mcpartners.com.