TMT Investments PLC Additional investment in Backblaze, Inc. (4528K)
July 30 2013 - 4:26AM
UK Regulatory
TIDMTMT
RNS Number : 4528K
TMT Investments PLC
30 July 2013
30 July 2013
TMT INVESTMENTS PLC
("TMT" or the "Company")
Additional investment in Backblaze, Inc.
TMT Investments PLC, which invests in high-growth internet-based
companies across a variety of sectors, is pleased to announce that,
pursuant to the terms of the original investment, it has invested
an additional US$2.5 million in Backblaze, Inc., an online data
backup provider ("Backblaze"). As a result, TMT currently owns
18.03% of Backblaze's fully diluted equity capital.
TMT originally acquired 9.86% of Backblaze's fully diluted
equity capital on 24 July 2012, for an aggregate consideration of
US$2.5 million.
Incorporated in Delaware and headquartered in San Mateo,
California, Backblaze (www.Backblaze.com) offers a service that
automatically and continuously backs up all data from Mac- or
Windows-enabled computers, over the Internet, to Backblaze's data
centres. The Backblaze service is competitively priced, and
generally costs US$5 per month per computer for unlimited storage.
When users lose data, they can restore a single file, a folder or
all their data by downloading it from any web browser or having
Backblaze mail their data on a USB flash key or USB hard drive.
Customers can also access their files via the web, iPhone, or
iPad.
Backblaze has customers in over 100 countries, is localized in
11 languages, stores over 50 petabytes of data, and has restored
over 3 billion files for its customers. The company has won
numerous awards including SIIA CODiE award for Best Cloud Storage
and Back Up Solution and AlwaysOn Global Top 250 private
companies.
Definitive agreements for the transaction were entered into, and
the transaction was completed, yesterday.
For further information contact:
TMT Investments Plc +44 1534 281 843
Mr. Alexander Selegenev alexander.selegenev@tmtinvestments.com
www.tmtinvestments.com
ZAI Corporate Finance
Ltd.
NOMAD and Broker
Marc Cramsie/Irina Lomova +44 20 7060 2220
Kinlan Communications Tel. +44 20 7638 3435
David Hothersall davidh@kinlan.net
About TMT Investments
TMT Investments PLC invests in high-growth, internet-based
companies across a variety of sectors and has a significant number
of Silicon Valley investments in its portfolio. Founded in 2010,
TMT has raised USD28m and invested in 26 companies to date. The
company's objective is to generate an attractive rate of return for
shareholders, predominantly through capital appreciation. The
company is traded on the AIM market of the London Stock Exchange.
www.tmtinvestments.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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