InterCloud Systems Continues Growth Plan

Zacks Small Cap Research

By Ken Nagy, CFA

On April 9, 2013, InterCloud Systems Inc. (OTC BB:ICLD), the Boca Raton, Florida based end-to-end solution provider of value added cloud and managed service based platforms, professional services, applications and infrastructure to both the telecommunications industry and corporate enterprises announced that it has signed a definitive agreement to acquire AW Solutions, Inc., of Longwood, Florida.

InterCloud will acquire the provider of professional services to the telecommunications industry, which include network systems design, architectural and engineering services, program management, and other technical services, for an aggregate purchase price of $5,215,607.50, subject to certain adjustments, consisting of cash, promissory notes and InterCloud common stock.

The aggregate amount represents two and one-half times AW Solutions' reported EBITDA for the period from March 1, 2012 to February 28, 2013.

In November 2012, InterCloud Systems executed a definitive agreement to acquire the Telco Professional Services and Handset Testing business divisions of Tekmark Global Solutions, LLC, as well as a definitive agreement to acquire Integration Partners Corp-NY a New York based cloud and managed services business, with professional services and applications capabilities.

InterCloud began the integration of three other 2012 acquired companies which was the driving force in its fourth quarter revenues exploding by $11.252 million year over year to $11.361 million from $108,380 for the comparable quarter of 2011.

Given the worldwide popularity of telecommunications and wireless products and services, the Company anticipates selectively pursuing international expansion, which management believes represents a compelling opportunity for additional long-term growth.

A copy of the full research report can be downloaded here >> InterCloud Systems Report 

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