Innovise Software Ltd has sold its low cost hosting business trading as “RapidHost” to Enix Ltd, the owner of “HostPresto”. The sale allows the customers of RapidHost to benefit from the combined scale and expertise of HostPresto while Innovise focuses on the SaaS hosting of its own product portfolio.
Mike Taylor, CEO of Innovise, explains the decision to sell:
“When we bought RapidHost in 2009 we were looking to access talent and expertise to accelerate our move into SaaS. It has been a great success and that expertise underpins the majority of our software sales today. However, the acquisition also brought with it a portfolio of low cost shared hosting services. This is an increasingly competitive market segment and is non-core for Innovise. Therefore, earlier in the year we decided it was best for our RapidHost customers and our hosting staff to find a strategic owner of the business that could invest for the long term. I am thrilled to be selling to Enix Ltd as the HostPresto team has the same customer service ethos and deep technical knowledge that attracted us to RapidHost in the first place. I am confident this will be a great success for our RapidHost customers and give Innovise improved focus.
Elliot Pearse, Managing Director of Enix, explains the background:
“Since we founded HostPresto in 2001 we have grown steadily based on our commitment to high quality customer service, great technology and the personal touch. With RapidHost we spotted the potential to accelerate our growth and expand our offerings into the Microsoft and Filemaker markets. We are excited to be bringing RapidHost into the fold and look forward to continuing our growth with the benefit of our expanded service offering.”