Jun 12, 2007 : Internap to Invest $40m in Expansion

📅 June 12, 2007 - Intelligent routing solutions provider Internap Network Services (internap.com -> inap.com) announced on Tuesday it has approved an investment of up to $40 million to fund the expansion of its colocation facilities in several key markets.


The company anticipates implementing the expansion over the next three to four calendar quarters, with any potential funding to be provided under standard commercial financing arrangements.

"We are seeing unprecedented demand for Internap's data center services, particularly now that we are able to offer our customers a full suite of products and services from colocation and IP route optimization, to CDN and ad monetization services," says James DeBlasio, president and CEO of Internap. "This expansion dramatically improves Internap's position in the marketplace as the Internet solutions provider of choice."

With this announcement, Internap's capital expenditures are expected to fall in the range of $45 to $55 million for 2007. Internap has reaffirmed its full year 2007 revenue guidance of 30 percent growth over 2006, and has also reaffirmed its full year adjusted EBITDA guidance, which is expected to be in the range of $34 to $37 million.

Internap announced last month it was rated one of "America's Most Trustworthy Companies" by Audit Integrity, an independent Los Angeles firm that provides research on corporate governance best practices.