Blackstone Acquires Cloud Computing Firm Cloudreach

Industries Reuters

Blackstone has acquired a majority stake in cloud computing business Cloudreach for an undisclosed sum, the buyout fund said on Thursday.

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Cloud computing uses a network of remote servers hosted on the Internet to store, manage and process data, instead of a local server or a personal computer.

London-based Cloudreach has operations in seven countries, with clients including travel booking sites Sky Scanner and Trainline and publisher Time Inc.

 

(Reporting by Dasha Afanasieva; Editing by David Goodman)