Best Buy Looks to the Cloud, Set to Buy mindSHIFT

(Ping! Zine Web Hosting Magazine) – Leading electronics retailer Best Buy just made a major play in the area of cloud computing.

Today the company announced that it was planning to buy mindSHIFT Technologies, a major company that specializes in tech services including cloud, hosting, IT and more.

The sum of the transaction is set at $167 million dollars and marks one of the company’s largest acquisitions since it bought tech services company Geek Squad around nine years ago.

mindSHIFT focuses on providing its IT managed services for financial institutions, education, healthcare, and more.

The partnership will aim at boosting services for SMBs (small to medium-sized businesses). Despite the move, mindSHIFT will continue operating under its current company name.

In a press release on the matter, Best Buy Services senior VP George Sherman discussed the acquisition’s potential to help his company grow. He stated, “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.”

The move will likely signal a boost for mindSHIFT, considering its being acquired by such a high-profile retailer.

Meanwhile, mindSHIFT Technologies CEO Paul Chisholm stated, “We are very closely aligned with Best Buy in both corporate vision, and in our culture of integrity, customer value and results.” For more information on the matter, view a press release at: http://www.mindshift.com/Company/News-and-Events/Press-Room/2011/Best%20Buy%20to%20Acquire%20mindSHIFT%20Technologies.aspx

 

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