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 decent one for ThinkGrid's investors: a spokesperson for Runa Capital, a VC backer of ThinkGrid, tells TechCrunch?that 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 RNS statement for the deal notes that Fidelity Telecom (the non-trading name for ThinkGrid) had unaudited gross assets of ?600,000, although this "does not reflect the transactional value of the acquisition," a Colt spokesperson told TechCrunch.

Source: http://feedproxy.google.com/~r/Techcrunch/~3/MVQC0qxy3fA/

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