Segulah acquires the cloud division from Sungard Availability Services, relaunches it as Conapto.
Sungard Availability Services, an American provider of IT production and recovery services, announced selling his Swedish cloud operations to Swedish private equity company Segulah.
The deal, which has the financial details undisclosed, was made through the fund Segulah V LP, which will operate the acquired assets under the name Conapto. In conjuction with the agreement, the company will appoint on the board of directors Ulf Engerby, former CEO and founder of Qbranch, and Ann Hellenius, CIO of the Year 2017 and elected CIO at Scandic Hotels.
Conapto operates two data centers and a recovery center in the Stockholm area, operated by 22 employees. The company has its roots in the Backup Center, which opened its first data center in 1982. Since then, the company has developed from offering recovery services to today focusing on colocation and related solutions such as connectivity and cloud access.
Conapto aims to reach a turnover of SEK 120M ($13M) during 2019, higher than the forecasted growth of 18% for the co-location market in general.