The Blackstone Group Acquires Cloud Computing Company Cloudreach
17 February 2017
The Blackstone Group (Blackstone) has acquired cloud computing company Cloudreach. Cloudreach, which has headquarters in London, United Kingdom, offers services that enable customers to facilitate “intelligent and innovative cloud adoption”. Established in 2009, the company’s main partners are Amazon Web Service (AWS), Microsoft and Salesforce, and their cloud platforms underpin all of the company’s activity. It has a global presence with offices in seven countries. Blackstone acquired Cloudreach for an “undisclosed sum”.
Blackstone, which has headquarters in New York, United States, was established in 1985. The company provides a suite of financial services and is recognised as one of the world’s leading investment companies. It manages over $360 billion in assets and focuses on “private equity, real estate, public debt and equity, non-investment grade credit, real assets and secondary funds”.
Cloudreach co-founder Pontus Noren will become the company’s CEO while senior Blackstone adviser Dave Johnson will become its chairman. Blackstone is buying into an industry that is projected to be worth $236 billion by 2020. "We are entering into this industry at a key inflection point and will seek to make additional investments to accelerate and expand Cloudreach's capabilities," explained Mr. Johnson.
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