Crayon takes minority stake in UK-based Microsoft partner

Cloud Direct operates Microsoft public cloud solutions and has annual revenues of £20m

Norwegian IT solutions provider Crayon has announced it is to invest £3m to take a minority stake in UK-based cloud MSP Cloud Direct.

The agreement will also include an option for Crayon to further invest in a majority ownership of that company at a later date.

Microsoft partner Cloud Direct has annual revenues of £20m, Crayon says, 82 per cent of which is recurring revenue, and employs 165 people.

"We are excited about this agreement as it combines the best of both Crayon and Cloud Direct," said Crayon CEO Melissa Mulholland.

"We both have the global elite status of being a Microsoft Azure Expert MSP and Crayon's customer-centric approach to cost optimization complements Cloud Direct's managed services capabilities."

Crayon claims the investment will strengthen its managed services offering by creating "an end-to-end public cloud infrastructure and economics offering" while expanding its expertise in Microsoft technologies.

The agreement will largely focus on Cloud Direct's operations in the UK to begin with but can scale to customers worldwide.

"Cloud Direct builds and operates Microsoft public cloud solutions that work - ensuring cost optimization, technical performance, and security compliance," said Cloud Direct CEO Brett Raynes.

"We focus our professional and managed services on helping ambitious companies accelerate transformation and growth. Working with Crayon, we will drive more value to more customers."