Channel Islands communications provider Sure announced that its subsidiary Sure (Jersey) Ltd. is set to acquire 100 percent of the shareholding in data center and cloud services provider Foreshore for an undisclosed sum.
The acquisition is subject to local regulatory approval and pre-completion conditions.
The acquisition of Foreshore will provide Sure with a data center in Jersey to complement its own data center offering in Guernsey and will help to strengthen Sure Jersey’s enterprise portfolio by providing on-island data center hosting and a range of cloud services to support its customers locally and internationally, the company said in a statement.
Foreshore has a number of Cayman Islands based clients. Polly Pickering, Forshore’s vice president for the Caribbean and Latin America, said the change of ownership in Jersey will not impact service for local customers in any way.
“We have been providing services to Cayman for over 10 years. In fact, some of our cloud services delivered to over 200 companies in the Caribbean region (Online Backup and Mimecast Offshore email) were launched in Cayman before anywhere else,which demonstrates the strong commitment to the region,” she said.
“The Cayman Islands will remain a key market for the business in the future,” Ms. Pickering added.
Graham Hughes, CEO of Sure in Jersey, said his company has extensive experience serving the local and international financial services, eGaming and eCommerce industries as a data hosting provider. “This acquisition enables us to combine this experience with that of Foreshore in creating a level of data hosting and cloud services expertise that will be unrivaled in the Channel Islands,” he noted.
“Sure’s track record for high quality data hosting in Guernsey combined with its international footprint will make the integration of Foreshore’s business a natural fit,” said Chris Evans, CEO of Foreshore.
“I have no doubt that the benefit of bringing our two companies together will be a wider choice of services to our respective customers and an improved level of competition in the market generally.”
Foreshore built Jersey’s first enterprise-class data center in 2000, attracting a number of international eCommerce customers, and since then brought data security and offshore cloud services to a worldwide customer base.
“There’s no doubt that Foreshore’s international expertise complements our own experience working with clients around the world,” Mr. Hughes said. “One of the first tasks we will undertake as we go through the transition to integrating Foreshore fully into Sure, will be to work with all existing clients to advise them of the change of ownership and to confirm that Foreshore will continue to operate the same services to the high standards that they have come to expect.
“We will also consult fully with all staff in Foreshore and Sure to help them understand the vision we have to create the strongest data hosting and managed services offering in the Channel Islands’ marketplace.”
While the agreement to acquire Foreshore has been signed by both parties, it is expected to take approximately five weeks before regulatory approval for the deal is received.