Beeks Financial Cloud Acquires VPS Provider, Commercial Network Services

Beeks Financial Cloud, an Infrastructure-as-a-Service provider for financial markets, is pleased to announce it has acquired the assets of Commercial Network Services (CNS), a US-based VPS provider, for a total consideration of up to $1.4million.

CNS supplies virtual servers for Forex, Stock, Commodities, Equities and Derivatives traders and brokers, with its own datacentre space in London, New York and Los Angeles, reflecting similar services as offered by Beeks to retail traders. With an established customer base and high levels of recurring revenue, the acquisition will bring additional customers and datacentre locations to Beeks' current retail offering, and is expected to deliver cost synergies. 

This move helps to achieve the goal outlined in Beeks' IPO in November 2017, whereby the cash injection received by becoming a listed company would contribute to expanding the business through scaling its assets and via strategic mergers and acquisitions.

Beeks Financial Cloud CEO, Gordon McArthur, commented: "At the time of our IPO, we stated our belief that the fragmented nature of our industry would provide us with the potential to augment our organic growth with both bolt-on and strategic acquisitions. Commercial Network Services is a profitable, growing business whose services reflect those we offer to retail traders. The business therefore fits well within our acquisition criteria and we anticipate that it will be a valuable addition to the Group."

@BeeksFX, Beeks Financial Cloud is a global low-latency service provider for institutional capital markets, headquartered in the UK. With eleven data centres around the world and low-latency connectivity between sites, Beeks assists institutional clients in trading by reducing barriers to entry and time to market.