Fresh off a major capital infusion, EvolveIP just acquired Xtium

Written by Roberto Torres, Philly

No financial details were disclosed from the acquisition of Xtium, but the move is in line with the company’s growth strategy.

Evolve IP, a Wayne-based cloud services company, announced on Thursday it had acquired King of Prussia, Pa.-based Xtium, Inc., another cloud services company. The company did not immediately disclose any financial details from the transaction.

The deal is aligned with its previously-announced growth strategy: In June, Evolve IP sold a majority stake for an undisclosed amount to Boston venture capitalist firm Great Hill Partners.

“Our team couldn’t be more pleased to join Evolve IP and we’re excited to have new opportunities due to the company’s tremendous growth,” said Xtium CEO Tim Vogel in a statement.

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