Blackstone buys majority stake in Cloudreach

With Blackstone's support, the business intends to expand its geographic footprint, develop its software development capacity, and further automate its managed services and cloud operations capabilities.

Company
Based in London and established in 2009, Cloudreach helps companies integrate and manage public cloud services into their business models. Its primary cloud platform partners are AWS, Microsoft and Salesforce, while clients include BP, Pearson and Hearst Corporation.

According to the most recent publicly available information, Cloudreach posted a £26m turnover in 2015 with gross profit of £5.4m – both figures being more than double the previous year's.

People
Blackstone – Dave Johnson (senior adviser).

Advisers
Company – Arma Partners (corporate finance).

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• Topics
• Buyouts
• UK / Ireland
• Technology
• Blackstone Group
• United Kingdom