VaultLogix Online Backup Buys Assets of Utility Backup Solutions

VaultLogix LLC, provider of secure, reliable, online backup and recovery capabilities for business data, has completed the acquisition of certain assets of Utility Backup Solutions LLC, a provider of secure online backup and recovery.

This announcement increases VaultLogix’s customer base for its Internet Vault Live online backup service.

With the addition of Utility Backup Solutions clients, VaultLogix now services over 5,000 business clients worldwide. VaultLogix offers online backup solutions, either through its own proprietary solution, Internet Vault Advantage, or through existing relationships with third-party online backup software providers. By supplementing its own offering with those of other software providers, VaultLogix is able to ensure an online backup solution for any business, regardless of their internal configurations and heterogeneous platform needs.

"VaultLogix is focused on providing the right online backup solution for each of our customers," said Tim Hannibal, CEO and President for VaultLogix. "We evaluate the customer’s disaster recovery needs and design a solution that fits that customer’s requirements, all at a cost-effective price point. It is one of the reasons we are confident that we can continue to build our lead in offering the best online data protection solutions in the market."

The acquisition of Utility Backup Solutions closed in September 2011 and VaultLogix expects the acquisition to be accretive to its revenue results as well as generating significant cost savings on a go-forward basis.

Financial details of the acquisition are not being released.