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August 13, 2012 12:36 pm GMT
Some consolidation up in the clouds: Colt Technology Services has bought ThinkGrid, an enterprise cloud startup that has created a platform for channel partners and small and medium businesses for them in turn to become cloud service providers. The financial terms of the deal were not disclosed, but it looks like it was a good one for ThinkGrid's investors: a spokesperson for Runa Capital, a VC backer of ThinkGrid, tells TechCrunchthat it has made back 4.5 times what it invested in the company in October 2011 (that investment itself was for an undisclosed amount).The deal underscores the strength of the cloud and managed services business specifically in the area of SMBs, but also how Colt needs to focus more on that area to try to capitalize on that. Colt says this market is set to grow "15% annually during the coming years." But in its last earnings statement, Colt also noted that "economicheadwinds" were leading to lots of churn in data and voice services among its small business customers.
Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/MVQC0qxy3fA/
An Exit In The Cloud: Colt Buys ThinkGrid To Beef Up Its Small Enterprise Cloud Services Business
Some consolidation up in the clouds: Colt Technology Services has bought ThinkGrid, an enterprise cloud startup that has created a platform for channel partners and small and medium businesses for them in turn to become cloud service providers. The financial terms of the deal were not disclosed, but it looks like it was a good one for ThinkGrid's investors: a spokesperson for Runa Capital, a VC backer of ThinkGrid, tells TechCrunchthat it has made back 4.5 times what it invested in the company in October 2011 (that investment itself was for an undisclosed amount).The deal underscores the strength of the cloud and managed services business specifically in the area of SMBs, but also how Colt needs to focus more on that area to try to capitalize on that. Colt says this market is set to grow "15% annually during the coming years." But in its last earnings statement, Colt also noted that "economicheadwinds" were leading to lots of churn in data and voice services among its small business customers.Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/MVQC0qxy3fA/
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