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Plenty of technology companies offer to handle the deployments of cloud-based business software for you — so you don’t have to worry about maintaining physical infrastructure you would otherwise need.
Now one of those cloud software operators, Velocity Technology Solutions, has made a land grab to buy another cloud software operator, Titan Technology Partners, which means more customers and more software it can offer.
Now Velocity can sell SAP and Oracle’s PeopleSoft software, according to Velocity’s press release on the news.
Velocity also provides cloud services like infrastructure as a service and platform as a service. But those two areas are quite competitive, with big providers like Amazon, Google, and Microsoft regularly announcing new features and price cuts. So it makes sense to diversify a little more and go after the challenging part of running specific cloud-based applications.
Today’s deal makes Velocity into a fairly large cloud-software provider, as Velocity and Titan’s combined annual revenue exceeds $150 million. And Velocity will have more than 750 employees as a result of the deal.
Titan, based in Charlotte, started in 1998.
New York-based Velocity bought Oracle cloud software operator iXtend last year.
Terms of the Velocity-Titan deal weren’t disclosed.
Oracle is the gold standard for database technology and applications in enterprises throughout the world. The company is the world's leading supplier of information management software and the world's second largest independent softwar... read more »
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