Colt Acquires Fidelity Telecom Limited ("Fidelity" trading as "ThinkGrid")

13 August 2012

Colt Group S.A. is pleased to announce that it has completed the purchase of 100% of the share capital of Fidelity Telecom Limited an unrelated, privately owned company based in the United Kingdom.

Fidelity, which trades under the ThinkGrid name, is an international enabler of cloud computing that equips IT providers with the tools and help necessary to establish or expand a revenue stream from the cloud. ThinkGrid's three key component offering consists of a state of the art self-service and billing platform, productised cloud services (including Hosted Virtual Desktop, Virtual Server, Unified Communications, Hosted Email) and above all an enablement and go-to-market program to help partners achieve success.

The unaudited value of the gross assets being acquired was GBP 0.6m for the financial year ending 31 December 2011.   

François Eloy, Executive Vice President at Colt, commented:

“The SME market for managed services is set to grow at 15% annually during the coming years. Colt is well positioned to penetrate this market through our indirect channels. The acquisition of ThinkGrid further strengthens our position with the addition of a complementary range of cloud-based services. We also gain a reseller-oriented management platform and portal which will reduce our time to market across our European markets.”

Further details can be found in a separate press release issued today following this link.

Investor / Financial Analysts’ contact
Colt : Morten Singleton
DDI : +442078635314
Email : morten.singleton@colt.net

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