Best Buy is the latest well known brand to buy into the fast
growing cloud services space. The electronics retailer announced
today that it's acquiring
mindSHIFT Technologies, a leading managed service provider
(MSP) to small and mid-sized U.S. businesses (SMBs).
mindSHIFT provides cloud, data center and
professional services to more than 5,400 clients -
some 25,000 managed desktops - in markets across the U.S. The
acquisition will "help accelerate Best Buy's growth in the small
and mid-sized business IT services category," according to a Best
Buy press release. Financial
terms of the transaction were not disclosed.
Combining mindSHIFT's telecoms services capabilities with Best
Buy's retail, Geek Squad services and Best Buy For Business
distribution channels "... is expected to create a competitive
advantage that would provide an opportunity for the two companies
to capture greater market share with the estimated $40 billion ..."
SMB MSP market, Best Buy says.
"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,"said George Sherman, senior vice president of Best
Buy Services. "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
The move illustrates the ongoing opportunity presented by the
cloud. An opportunity that companies of all
shapes, sizes, and competencies are eyeing. We encourage CHR
clients to do the same.