The Poland-based subsidiary of R22, H88 Hosting acquired 100% stake of the Croatia-based hosting provider, Avalon. Financial terms and further details on the transaction were not disclosed. Financial advisor to Avalon in the deal was SORTIS’s partner in the Globalscope M&A advisors network, Grubisic & Partners, a corporate finance and M&A consultancy firm.
Avalon D.О.О is a Croatian web hosting services provider that holds 17% of the Croatian web hosting market and has more than 20,000 users. The company was established in 1987 by two friends, Damir Mujić and Dražen Ferenčić and operates more than 16,000 websites across Europe. Avalon is generally tailored for small businesses and provides them with virtual private servers, dedicated servers, SSL certificates, provisioning, monitoring, online collaboration, email and domain management. Commenting on the deal, Damir Mujic, co-founder of Avalon stated:
“It is time for a new cycle and I am sure that the new owner will accelerate company’s development with its fresh capital, as well as additionally strengthen Avalon’s position on the market. We had many offers in the past few years and we carefully selected the best partner, so our clients can be sure that the service will remain at a high level.”
Polish R22 is formed by a group of combined technological companies and provides advanced IT solutions and systems in the form of subscription models or Software as a Service (SaaS). R22 has more than 150 specialists working in different centers across Poland and operates in the three business segments: hosting and domain services, omnichannel communication services, and telecommunication services related to e-commerce and e-marketing areas. The acquisition is an important milestone for R22, as the company’s vision is to become the leading hosting provider in Central and Eastern Europe by 2020 with more than 500,000 users.
