Sep 26, 2001 : BJK Buys Colo.com's IDCs

📅 September 26, 2001 - BJK Investments has finalized its purchase of 22 Internet Data Centers formerly operated by the bankrupt Colo.com. The transaction, which was approved by a San Francisco bankruptcy judge earlier this month, closed on Sept. 21. BJK, an investment firm with ties to Global Switch (globalswitch.com), was the high bidder in an auction for the assets of Colo.com, which filed for Chapter 11 bankruptcy May 8.

Walnut Creek, Calif.-based BJK hopes to use the data centers as a platformto deliver managed hosting solutions, reported Rich Miller of CarrierHotels.BJK plans to work with KeyBridge Corp., a Reston, Va.-based managed servicesprovider founded last November with $60 million in funding from GlobalSwitch. KeyBridge offerings include dedicated hosting, firewalls, datastorage and traffic load management.
The 22 data centers are located in the following cities: Beaverton, Ore.;Chicago, Ill.; Dallas.; Fort Worth, Tex.; Emeryville, Calif.; Houston, Tex.;Las Vegas, Nev.; Los Angeles; Milwaukee, Wisc.; New York; Oak Brook, Ill.;Orlando, Fla.; Phoenix, Ariz.; Pittsburgh, Pa.; San Diego, Calif.; SanFrancisco; Santa Clara, Calif.; Seattle, Wash.; St. Louis, Mo.; Sterling,Va. and Vienna, Va.
Crippled by a $360 million debt load, Colo.com filed for bankruptcypromising "business as usual" as it reorganized its finances. But thecompany was unable to obtain post-bankruptcy debtor-in-possession financing,and was forced to put its assets up for sale.

Reads: 2044 | Category: General | Source: TheWHIR : Web Host Industry Reviews
URL source: http://www.thewhir.com/marketwatch/bjk926.cfm

Company: GlobalSwitch

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