Virtual Office Resource

Evolve IP (News - Alert), a provider of cloud communication services, announced that it has acquired cloud computing company Paragrid.

Paragrid is a Cleveland-based virtualization company that provides shared and private cloud computing services to government, education, healthcare and corporate clients. Paragrid's cloud services include server hosting, disaster recovery solutions, virtual desktops, and hosted private cloud solutions.

"We are pleased to be bringing Paragrid and their experienced virtualization team into the Evolve IP family," said Guy Fardone, chief operating officer and general manager of Evolve IP, in a statement.

Fardone explained that merger and acquisition remains a key part of the company’s national expansion strategy, and with this latest acquisition, Evolve IP gains new enterprise customers, consulting services and world class data centers to support the company’s Midwest market.  

“We continue to seek more companies that are interested in growing with Evolve IP," he said.

Ryan Berg, president of Paragrid added, "We're very excited about joining Evolve IP and being part of a national cloud computing company.”

Berg noted that the company’s customers will immediately gain access to new cloud services while continuing to receive the same exceptional support Paragrid has always provided.

“With the added resources of Evolve IP behind us, our team expects to materially grow the Midwest market," he said.

Earlier in August, Evolve IP announced that it had reached significant milestones in both contracted revenue and hosted services. Just six years after its first product launch, the privately-held company provides over 50,000 cloud end-points with over $100 million in contracted revenue.

Additionally, the company has acquired and integrated several organizations from the Mid-West and East Coast and continues to seek-out and identify additional potential acquisitions.