ALSO Group acquires Helsinki's Nervogrid

In exit news, Helsinki-based Nervogrid announced an acquisition by ALSO Holding AG, which is renaming itself to ALSO Group with the accession. Nervogrid provides “cloud control panels as a service” – meaning they allow vendors, service providers, and resellers to become cloud brokers. The company has been around since 2007 and is working with 300 service providers in 30+ countries.

The purchase price has not been disclosed, but in 2013 Nervogrid reported revenue of approximately €3 million. The company has about 30 employees.

It doesn’t need to be said that “the cloud” is still a hot buzzword – the global cloud computing market is expected to reach $241 billion in 2020. This cloud brokerage market is on the rise as well – it’s forecasted to grow from $1.57 billion in 2013 to $10.5 billion by 2018. It’s assumed with the acquisition ALSO group hopes to grab onto and ride this expected growth.

In a written statement CEO of ALSO Holding, AG Gustavo Möller-Hergt, gives some hint of what they plan to do with the company. “With this acquisition, ALSO Holding AG wants to strengthen its expertise in the cloud business and to develop it further. We offer our customers and partners in the cloud environment an ideal Cloud Brokerage Enablement platform from which to offer their cloud services to a broad base of resellers and their customers. This service platform enables us to create a bridge between vendor and reseller. For ALSO, offering cloud services opens up new business possibilities with independent software and service vendors.”

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