Best Buy Moves into Cloud Services with mindSHIFT Acquisition

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 Geek Squad."

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.

Written by Kevin Kutcher at 00:00
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