ST Telemedia Announces Majority Stake Investment in US-based Cloud Service Provider 2nd Watch
- Strategic investment sets the stage for a global cloud-focused platform
- Investment helps scale 2nd Watch and further enhance its position as the leading global cloud native services provider
SINGAPORE and SEATTLE, 10 October 2019 - ST Telemedia (STT), a strategic investor focused on infrastructure technology, data centres, and communications and media businesses, today announced that it has entered into a definitive agreement to make a strategic investment for a controlling interest in 2nd Watch, a leading cloud service provider based in Seattle. 2nd Watch is 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.
Over the past few years, STT has made significant investments in data centres and AI-driven, cloud-centric businesses focused on cybersecurity, big data, IT operations, customer digital experiences and managed cloud services. The addition of 2nd Watch will expand and strengthen STT’s managed cloud services capabilities combining 2nd Watch’s market leading position in the United States and reputation for world class services together with STT’s managed cloud services business in Asia including Cloud Comrade.
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. 2nd Watch is viewed as the leading US provider for professional and managed services. The company has also been recognised by Gartner for three consecutive years in the Gartner Magic Quadrant for Public Cloud Infrastructure Professional and Managed Service, Worldwide, which we believe is a testimony of the company’s capabilities.
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.
“ST Telemedia has extensive experience in helping companies accelerate their global scale and reach and successfully operate in multiple regions. 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. “Combining our infrastructure technology portfolio with our position in data centres, STT has a unique presence in the global cloud IT ecosystem to ignite adjacent growth across our portfolio.”
Commenting on the transaction, Nikhil Eapen, Deputy CEO and Chief Investment Officer of STT, said, “Our strategic investment in 2nd Watch furthers our objective of building one of the world’s leading managed cloud services platforms. 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. We look forward to welcoming Doug and the entire 2nd Watch team to the ST Telemedia family and building a globally successful platform together with all stakeholders of 2nd Watch.”
“The alignment of 2nd Watch with ST Telemedia will be one of the most significant events in our space to date. This partnership will allow us to continue to provide world class services to our existing clients and also provide us the fuel to expand our services across the globe under the 2nd Watch brand,” says 2nd Watch CEO, Doug Schneider. “Customers truly benefit because it provides greater options worldwide for service delivery from our team of experts”.
The transaction is subject to customary closing conditions, including regulatory approvals.
About 2nd Watch
2nd Watch is an AWS Partner Network (APN) Premier Consulting Partner and a Microsoft Azure Gold Partner, providing managed cloud to enterprises. The company’s subject matter experts, software-enabled services and cutting-edge solutions provide companies with tested, proven, and trusted solutions, allowing them to fully leverage the power of the cloud. 2nd Watch solutions are high performing, robust, increase operational excellence, decrease time to market, accelerate growth and lower risk. Its patent-pending, proprietary tools automate everyday workload management processes for big data analytics, digital marketing, line-of-business and cloud native workloads. 2nd Watch is a new breed of business which helps enterprises design, deploy and manage cloud solutions and monitors business critical workloads 24x7. 2nd Watch has more than 400 enterprise workloads under its management and more than 200,000 instances in its managed public cloud. The company is headquartered in Seattle, Washington. To learn more about 2nd Watch, visit www.2ndwatch.com.
Source: Gartner, Magic Quadrant for Public Cloud Infrastructure Professional and Managed Services, Worldwide, Craig Lowery, To Chee Eng, et al., 26 February 2019. This report was previously titled Magic Quadrant for Public Cloud Infrastructure Managed Service Providers, Worldwide.
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