Acquisitions

Peruvian startup AmigoCloud acquired for $16M by US firm

LatAm List – CEO and Co-founder of AmigoCloud, Ragi Burham, recently announced that this Peruvian geospatial platform was acquired by Essential Services Group for $16M.

Essential Services Group, a US telecom infrastructure corporation, has been in communication with AmigoCloud about this deal for a year but Burham has only recently made a public confirmation of the deal.

Burham also made it clear that he will still have a role in the company’s future.

“My work has not ended there, it’s just starting,” said AmigoCloud’s CEO, for AmigoCloud stakeholders at a conference.  

AmigoCloud’s projects were not interrupted by the deal as the startup continues to work on Peru SAT-1, which is a geo-mapping project in collaboration with Peru’s National Commission of Aerospatial Research and Development (CONIDA).

Read more in the original article in El Comercio.

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