Cloudcoco

Mark Halpin has stepped down from the Board of CloudCoco and his position as CEO.

CloudCoCo continues to add experience to its senior team with the hire of Mark Allen as Head of Cyber.

CloudCoCo has appointed Lee Thatcher as Head of Cloud and Innovation to signal the company’s transition into a multi-cloud player.

CloudCoCo is pleased to announce the launch of a dedicated and agnostic multi-cloud division, headed up by Lee Thatcher in the new role of Head of Cloud and Innovation.

CloudCoCo saw its revenue climb from £8.1m in 2021 to £24.2m for the year ended 30 September 2022. This represents a swell of 198%, of which 67% was generated from recurring contracts.

CloudCoCo expects integrated acquisitions to push its revenues over £24m for the financial year, up from £8m in FY21. Trading EBITDA is expected to be in the region of £1.0m (FY21: £745k).

CloudCoCo has been awarded a multi-year contract with a new customer in the digital transformation services industry, valued at approximately £3m over a period of three years with further upside potential.

CloudCoCo has acquired IDE Group Connect and Nimoveri from IDE Group Holdings for a deferred consideration of £250k to support its ‘get bigger’ growth phase.