Megaport in the ascendant with multicloud boom

After notching an 85 per cent surge in revenue and adding 56 new locations in FY18, Megaport (ASX: MP1) has even more ambitious goals within the next 12 months.

Now connecting to 221 data centre locations worldwide, the Network as a Service (NaaS) provider recorded revenue of $19.8 million for the year and the bottom line was improved by more than $5 million with a $24.5 million loss.

Megaport CEO Vincent English says the company aims to have a total of 300 locations by June 2019.

The executive highlights a "significant increase" in customers consuming more than one cloud service in the company's network. For more mature partners this can even reach above 11 services per customer.

"This year, we boosted the value of our cloud provider ecosystem with the addition of IBM Cloud and Salesforce. In Fiscal Year 2018, the number of Megaport customers accessing multicloud directly grew 208%," says English.

"Today, Megaport is connected to more cloud onramps than any other SDN or interconnection fabric. Read more

Business News Australia - 22 August 2018