Best Buy Acquires MindSHIFT In Effort To Boost Cloud Computing Services
Written by Ken Gaebler
Best Buy's acquisition of cloud services provider mindSHIFT positions them to make a larger impact with small and medium-sized businesses.
On Monday it was announced that electronics retailer Best Buy plans to acquire mindSHIFT Technologies for $167 million. mindSHIFT is a managed services provider that offers cloud, IT, data center and other services to small- and mid-sized businesses.
Following the acquisition, mindSHIFT will continue to operate under its current name and management team. However, the move bolsters Best Buy's bid to expand its IT growth with mindSHIFT's network of 5,400 clients and 25,000 managed desktops nationwide.
"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," Best Buy Services Senior VP George Sherman said in a statement. "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."
Cloud computing is making significant inroads in the small business community. When compared to in-house computing platforms, the cloud offers improved cost-efficiencies, lower maintenance requirements and enhanced data-sharing capabilities.
For small business owners, Best Buy's acquisition of mindSHIFT may mean access to a broader range of cloud-based services, delivered through a brand-name retailer with more than 1,100 store locations and an established online presence.
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