Walbrook PR has been appointed by RapidCloud International Plc ("RapidCloud"), the computing services, web hosting and web solutions provider based in Southeast Asia, to manage communications with the financial media, research analysts and investors following its Placing to raise £1.0m and Admission to AIM announced last week. The account will be headed up by Walbrook's Head of Technology Sector, Bob Huxford.
RapidCloud is one of the few solutions providers in Malaysia that offers its services and proprietary software, such as web site building and e-commerce solutions, through all three available Cloud Computing segments (i.e. on a Software-as-a-Service, Infrastructure-as-a-Service and Platform-as-a-Service basis).
Formed in 1999 the Company has a well-established cloud offering with a customer base of over 36,500. These are predominantly SMEs but also include blue-chip clients such as Deloitte, BAE Systems and Canon, for which RapidCloud's extensive R&D department creates bespoke software solutions.
RapidCloud is a UK public company and was admitted to trading on AIM (ticker: RCI) on 15.08.13. The Company raised £1m before expenses in its IPO, the purpose of which was to expand its geographical presence beyond its existing operations (in Malaysia, Thailand and the Philippines) and into Indonesia. Funds will also be used to add to the Group's sales and marketing teams and for continued investment into innovation and R&D.
RapidCloud is profitable, cash generative, anticipates paying a regular dividend (subject to the availability of funds and capital requirements), has net cash and achieved a gross margin of 68% for the year ended 31 December 2012. The Group also achieved a CAGR in revenues of 25% between 2010 and 2012 and, according to industry research from Frost & Sullivan, the Cloud Computing industry in Asia Pacific is expected to grow at a CAGR of 49.6% between 2013 and 2015, giving a market size of US45.6 billion by 2015.
Paul McManus, Managing Director of Walbrook PR commented:
"RapidCloud is a fast growing company with established and recognised brands in South East Asia. We are delighted to be working with the Company and are confident that our efforts, alongside the Company's AIM listing, will further improve RapidCloud's profile both in its home markets and in the UK.
"RapidCloud's share price has performed strongly since listing, up some 85% already, and we look forward to assisting the Company in maintaining this forward momentum."