Over the course of the past six months, CTP’s leadership team explored various funding routes, each with its own benefits. Our initial intent was to raise a “D” round of funding. During these discussions, it became clear that one party stood out from the rest.
Today I am thrilled to announce that Hewlett Packard Enterprise (HPE) has completed a definitive agreement to acquire Cloud Technology Partners.
Seven years ago, Jon Rounds, Erik Sebesta and I started Cloud Technology Partners. We had five employees, two clients who spoke different languages from opposite ends of the globe and one big dream: to build a great company. Three office moves, hundreds of clients, and a few continents later, I truly believe we have accomplished our goal. Our clients, our partners, our innovation, our team and our culture have made us the preeminent professional services company in the cloud!
Uniquely, HPE provided us the opportunity to maintain our industry-recognized brand and rapidly scale through new revenue streams, new markets, larger and more diverse enterprise accounts, and additional human capital. Looking forward, we are excited to embark on this next phase to help shape HPE’s cloud strategy as they continue to focus on delivering the promise of the hybrid IT strategy and digital transformation.
Together, we will accelerate the growth of HPE Pointnext by providing our clients with a comprehensive IT strategy that includes private, managed and public clouds, as well as traditional IT services. We at CTP have always held the client experience as a crucible we hold dearly. We pride ourselves with the reality that we must win our clients’ loyalty every day. By joining forces with HPE, we not only expect to continue this tradition, but with their scale and world-class portfolio, we strive to add even more value for our clients in the future.
The CTP team has heard me say several times over the years, “We’re gonna need a bigger boat!” For those of you far younger than me, you may not be aware that this is a quote from the movie “Jaws.” I referenced this several times over the years as CTP was going through periods of rapid growth. With HPE, we just got our bigger boat!
These past seven years have been the most rewarding of my career and as you might imagine, selling the company was not an easy decision for me. Building a great company is no small feat and very few startups ever become industry-leading companies. After numerous conversations with HPE’s leadership team, the decision was made much easier, knowing this is what is best for our clients, partners and employees.
I am so proud of the great company that we have built and look forward to where we will go together. I would also like to sincerely thank all of our clients, partners, advisors, and investors who have helped us throughout the years.
Founder, Chairman and CEO, Cloud Technology Partners