Tom Keighley

Colt buys independent cloud computing specialist

Multinational telecommunications and IT services organisation, Colt Group S.A, has bought independent IT firm Fidelity Telecom Limited.

Fidelity trades under the name ‘ThinkGrid’, and provides cloud computing that equips IT providers with the tools necessary to expand a revenue stream from the cloud.

Colt has purchased 100% of the share capital of Fidelity, and the unaudited value of the gross assets being acquired was £0.6m for the financial year ending December 31.

François Eloy, Executive Vice President at Colt, commented: “The SME market for managed services is set to grow at 15% annually during the coming years. Colt is well positioned to penetrate this market through our indirect channels.

“The acquisition of ThinkGrid further strengthens our position with the addition of a complementary range of cloud-based services. We also gain a reseller-oriented management platform and portal which will reduce our time to market across our European markets.”

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