zgphotography - stock.adobe.com
Cloud distributor Pax8 pursues UK growth, tech innovation
Pax8 fueled its global ambitions in a span of two weeks with a U.K.-based acquisition and strategic leadership team, in addition to a $98 million boost in funding.
Denver-based cloud distributor Pax8 has rapidly positioned itself for international expansion, solidifying its presence in the European market over the last two weeks.
On Jan. 5, Pax8 revealed it had acquired Wirehive, a cloud hosting and consultancy company based in the U.K. Pax8 chief revenue officer Nick Heddy said the purchase will increase Pax8's reach into European markets and lay the framework for future global expansion.
Additionally, the Wirehive acquisition will provide the cloud distributor with new technologies. "Integrating Wirehive's innovative technology enhances the [our partners'] experience by providing … partners with emerging technologies and step-by-step cloud migration capabilities," Heddy said.
Nick Heddy
Wirehive was an attractive acquisition target, he said, as it helped diversify Pax8's technology portfolio as well as accelerate cloud transformation globally. "This acquisition enables both [Pax and Wirehive] to unlock new ways to automate cloud orchestration and optimization and expand our ability to simplify cloud strategies for IT professionals globally," he noted.
The cloud distributor also furthered its goals of growing internationally and innovating its technology through a new infusion of funding. On Jan. 6, the company revealed it raised $98 million in new equity capital.
In addition to fueling its plans for expansion, Heddy said Pax8 will use the funding to create the second iteration of Pax8 Pro, its cloud management platform launched in November 2020. According to Heddy, the second version will speed up "the transformation to complete license orchestration." He added that Pax8 will continue finding new and advanced ways to enhance its platform, providing partners with the innovative technology offerings.
On Friday, the company cut the ribbon on Pax8 UK, a strategic leadership team that will open the cloud distributor to U.K.-based partners. The Pax8 UK team includes close to 30 new hires as well as 32 employees from Wirehive, the company said. Robert Belgrave, the former CEO of Wirehive, will serve as CEO of Pax8 UK.
