Waterland-backed Tineo, a specialist for cloud services, completed the acquisition of Netrics, a cloud pioneer and managed services provider. Financial terms were not disclosed. "We are looking forward to becoming an even stronger force in the Swiss ICT market with Tineo and nexellent on our side, and can’t wait to ‘shake up the market’ with them. Three strong partners have come together who are each leaders in their respective market segment. We are very confident that we will be able to grow further in a dynamic market environment thanks to the integration of our expertise, our portfolios and our values and that we will be able to continue to provide our customers with the customary close support," Pascal Schmid, netrics CEO.