MSP Cloudreach snapped up by Blackstone

Investment will allow Cloudreach to expand geographically, according to co-founder Pontus Noren

UK cloud MSP Cloudreach has been acquired by investment giant Blackstone in a move it says will enable it to expand its geographic reach.

Terms of the deal have not been disclosed, but Blackstone has acquired a majority stake in the London-based cloud enabler.

Cloudreach co-founder and director Pontus Noren (pictured) will become CEO of the firm, with Blackstone senior advisor Dave Johnson assigned chairman of the board of directors.

"Since our inception in 2009, we have gone on to build the leading global cloud services company that is valued by its customers for the way in which we accelerate their success with adopting cloud technologies," Noren said.

"This investment by Blackstone will allow us to continue to expand our geographic reach, our software development capabilities, and further automate and expand our managed services [and] cloud operations capabilities.

"The focus is to enable our customers to innovate at pace and adapt their business to today's IoT, AI and digitally driven world."

Viral Patel, managing director at Blackstone, said: "We are excited to partner with this innovative company and strong management team to help it expand moving forward.

By combining Blackstone's patient capital and Cloudreach's industry-leading services, we see a significant opportunity to ignite dramatic growth in this business in the years ahead."