Novacap Technologies closes $145 mln sale of hosting provider iWeb to Internap
The previously-announced sale of hosting and cloud provider iWeb Inc to U.S.-based Internap Network Services Corp (NASDAQ: INAP) for US$145 million has been completed. The seller was Novacap Technologies, a private equity fund managed by Longueuil, Québec-based Novacap, which took the Montréal-based iWeb private for $47 million in 2011. The Caisse de dépôt et placement du Québec also participated in the 2011 deal. Novacap said Internap's acquisition of iWeb will allow both businesses to grow their market shares and service portfolios to offer a complete range of IaaS to companies at every stage, from start-ups to multinationals. Founded in 1996, iWeb currently serves 10,000 SMB customers worldwide.
27 November 2013•3 mins read
