ST Telemedia (STT) has entered into an agreement to make a strategic investment for a controlling interest in Seattle-based 2nd Watch, an AWS Partner Network Premier Consulting Partner and a Microsoft Azure Gold Partner.
All existing shareholders of 2nd Watch such as Madrona Venture Group, Columbia Capital and Delta-v Capital, amongst others, continue to retain a significant shareholding in the company following the investment.
Founded in 2010, 2nd Watch offers managed cloud services to some of the world’s leading brands, providing strategy consulting, assessments, designs, migrations, security assessments, and management of clients’ IT infrastructure that resides in hybrid cloud environments.
The transaction provides 2nd Watch with the ability to accelerate international expansion, deliver a broader set of infrastructure software solutions and thereby enhance the end-to-end client experience.
Globally, 2nd Watch aims to be a go-to brand for enterprises and, through this investment, will be able to build upon its high-quality services delivery due to the exceptional fit with STT’s complementary assets.
“We have been solidifying our capabilities across the cloud space and are excited to take a majority position in 2nd Watch,” said Stephen Miller, president and Group CEO of STT.
“Our strategic investment in 2nd Watch furthers our objective of building one of the world’s leading managed cloud services platforms,” said Nikhil Eapen, chief investment officer of STT. “We intend, with this investment, to build synergies across customers, partners and the digital ecosystem and accelerate our value add toward the digital transformation of enterprises.”
Doug Schneider, 2nd Watch CEO, said the partnership will allow them to continue to provide services to existing clients and also provide the fuel to expand services across the globe under the 2nd Watch brand.
The transaction is subject to customary closing conditions, including regulatory approvals.