Additional investment in Backblaze, Inc.

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 Mr. Alexander Selegenev www.tmtinvestments.com	[phone] [e-mail]
ZAI Corporate Finance Ltd. NOMAD and Broker Marc Cramsie/Irina Lomova	[phone]
Kinlan Communications David Hothersall	Tel. [phone] [e-mail]

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

 

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