AUSTRALIAN financial services company CloudX Barret says it is considering relocating its headquarters to a more efficient, more cost-effective location in Sydney after the company struggled to keep up with demand.
CloudX, which sells software and services to customers through its cloud services division, said it would not be changing its business model, but was considering moving to Sydney in 2019 to address the increasing demand for cloud computing.
The company said it had experienced significant growth in the last year, but the company was still trying to find a more cost effective location.
“Our cloud computing business has been growing at a rapid pace and we have been constantly working to address demand and maintain our position as the leader in cloud computing,” CloudX chief executive Peter Janssens said in a statement.
“We believe the NSW location provides a more sustainable environment and we are looking to relocate to Sydney to better meet our evolving business and operational requirements.”
CloudX operates in Australia under the names CloudX Salesforce, CloudX Aviation and CloudX Financial.
In a statement, Cloudx said it wanted to maintain its existing location in Melbourne but wanted to expand into Sydney to meet demand.
“CloudX has been successful in delivering our customers a wide range of cloud services and is proud to be part of the Sydney financial services industry,” Mr Janssen said.
Mr Jansdens said the company would be moving to a new location by the end of 2019, with a new team of more than 50 people.
But it could take up to four years to relocate, with the relocation costing around $200,000.
“The company has a strong track record in Australia, but we need to make sure that our new Sydney location remains a top performing location for our customers and that our existing customers can continue to benefit from the cloud services,” Mr D’Ambrosio said.
The move would not mean the end for the company.
CloudX is currently owned by a number of Australian private equity firms including Blackstone, D’Amato Investments, TPG Capital, and TPG Group.
It also has a small presence in Australia’s biggest city, Melbourne, as well as in Sydney, Brisbane and Perth.
CloudX also operates in other markets, including the US, the UK, India, the Netherlands and the Netherlands.
CloudExchange, a cloud services provider that offers cloud services through the HyperX cloud platform, has been considering moving its headquarters in Sydney since 2017, but Mr Jensens said it has not made any decision.