InterCloud Systems Inc (NASDAQ:ICLD) Quickly Acquiring Contracts to Expand Business

InterCloud Systems Inc (NASDAQ:ICLD) has recently been busy in acquiring contracts for its technology business. The company was awarded a cloud solutions contract with a major distributor of auto parts. Additionally, the company had announced a $3 million contract with a provider of global services.

As per the details, InterCloud had been approached by one of the large auto parts distributors from the east coast. The deal asks for the services of InterCloud to design, migrate and implement a cloud based web solution. The new system would deal with the infrastructure of web services, include a centralized point of sale and manage inventory data.

A few days before this announcement, the company had also inked a deal with global telephone company to upgrade its office networks in California to the next generation. InterCloud announced that the deal would be worth $3 million and work would begin immediately, with the larger part being completed this year.

The CEO, Mark Munro, remarked about the deals that they reflect on the steady flow of business his company has been receiving, from both small and medium sized businesses. He pointed out that SMBs are moving towards the cloud as a secure and economical way of saving and transferring information. He also stated that his company wants to move businesses from their current state of legacy IT infrastructures to next generation IT applications. He concluded by stating that his company would always work towards being ahead of its competition.

InterCloud also announced that it would be expanding its business dealings, through a deal with NYC’s largest provider of family services. InterCloud will provide turnkey implementations of its next-gen network solutions to 21 centers of the later. The deal is estimated to be worth $1.5 million and is an expansion to the previous services ICLD has been offering the company.

InterCloud Systems Inc (NASDAQ:ICLD) closed at $3.96 after gaining 17.51% on May 8. The company has 18.48 million shares being traded in the market with a 52-week range of $1.45-$7.89.

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Stinson is US Markets Daily’s Senior Producer for News & Public Affairs.

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