February 16, 2017 / 10:24 AM / in 2 years

Blackstone acquires London-based cloud computing firm Cloudreach

LONDON, Feb 16 (Reuters) - Blackstone has acquired a majority stake in cloud computing business Cloudreach for an undisclosed sum, the buyout fund said on Thursday.

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

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