Destra acquires Enet21: UPDATE

Web hosting and digital music company Destra Corporation has acquired Enet21's dedicated hosting business, in a $600,000 in cash and share deal.

Destra's CEO, Domenic Carosa, said that Enet21's annual revenue exceeded $1 million, and cited clients such as RSVP.com.au, Standards Australia International and Bullet Proof Networks.

Carosa said it the Australian Stock Exchange-listed company was continuing to look for acquisition opportunities.

He told iTnews that this is the twelfth web hosting company it has acquired over the past three years. "Certainly from a web-hosting perspective we see the market consolidating," Carosa said. "There are parallels to the ISP market, and we've seen significant consolidation over the last five years in that sector."

According to Carosa, the company doesn't plan to slow down its acquisition drive either. "We're looking at a number of other web hosting companies... and a number of companies in similar sectors. We certainly are looking at making core acquisitions in the next quarter."