Getronics closes acquisition of Colt's cloud business

Getronics Group this morning announced that its acquisition of Colt’s managed services business is complete.

Getronics will amalgamate the new business with its existing cloud operation to form a new portfolio known as Managed Cloud Services. The firm will take on 600 managed cloud customers spread across 11 countries.

Colt revealed that it was to sell its managed cloud services venture last June, after struggling to compete with  global heavy-hitters. The Getronics Group, which operates under the brands of Getronics, GWA and Connectis, viewed the acquisition as an opportunity to expand its European footprint and further its relationship with Colt.  

On the back of the deal, the two firms have announced a new partnership, where the Getronics family will provide managed cloud services to Colt’s customer base and will utilise Colt's network, voice and data centre capabilities.

“This latest deal is a significant one for Getronics because it reconfirms our continued strategy of growth as well as significantly increases our critical mass in the European cloud market, both in terms of additional customers and capabilities,” said Mark Cook, Group CEO at Getronics. “We welcome our new customers and employees to the Getronics family and are excited to provide a great platform for our mutual continued growth.”

Matthias Täubl, VP of Getronics’ parent company, Aurelius, added: “This is the 6^th add-on acquisition to the Getronics family since it was acquired by Aurelius in 2012. It represents the latest step in our sustainable investment in the group, to complement their organic growth.  We are delighted with the progress of the group in realising its digital transformation strategy, on the way to becoming the leading independent   ICT Managed Services provider in today’s IT services market”

The terms of the deal were not disclosed but in the last set of results for the managed service operation it was bringing in around €78m in revenue.