(The Hosting News) – $167 million: That’s how much Best Buy is expected to fork over for cloud provider mindSHIFT Technologies. The deal was revealed today by the leading electronic retailer.
Among its services, mindSHIFT provides colocation, managed hosting, web hosting, cloud, managed IT, and more.
Best Buy is betting on the deal to boost the company’s services in the area of SMBs (small to medium-sized businesses.)
In a press release concerning the matter, mindSHIFT CEO Paul Chisholm discussed how the companies have similar objects, stating, “Best Buy is committed as a corporate objective to expand its small business IT services business, and mindSHIFT will be one of the foundations of this strategy.”
Meanwhile, the move could represent an increase in visibility and services for mindSHIFT, who will also keep its name in the deal. In the press release, it’s stated that Best Buy will assist the cloud provider with expanding the company’s “capabilities” in the area of the customers it serves.
mindSHIFT specializes in areas of service including SMBs, financial, legal, and more.
Commenting on the matter, Best Buy Services Senior VP George Sherman stated, “There’s no question that acquiring the skills, capabilities and clients of mindSHIFT has the potential to help expand Best Buy’s global services capabilities in the vast small and mid-sized business market.”
“As important, the mindSHIFT team will bring added experience, talent and resources to the remote support capability we have been building within our multi-channel tech service unit Geek Squad,” he continued.
Best Buy made another big move in 2002 when it acquired IT service company Geek Squad. Over the years, GeekSquad has played an integral part of the retailer’s services.
Just last month, mindSHIFT announced that its cloudSHIFT server had achieved validation by VMware for vCloud. For more information on mindSHIFT, visit: http://www.mindshift.com/