Mar, 2002 : Venture Asset Group Manages Sale of Exodus Data Centers
📅 - Venture Asset Group (ventureag.com) said today it had managed the sale of three Internet Data Centers formerly owned by Web hosting firm Exodus Communications.
Exodus recently completed the sale of a substantial portion of its business and assets - approximately 30 IDCs - to British telco Cable & Wireless. Venture Asset Group was retained last December to manage the sale of the U.S. IDCs not included in the Cable & Wireless purchase. Three of the facilities, located in Austin, Texas, Herndon, Va. and Toronto, have recently been purchased by Dell Computer, Freddie Mac and Q9 Networks, respectively. These three facilities represent over 350,000 square feet of data center space and an original investment of over $120 million.
"There is a global reallocation of technology assets currently taking place which is repricing these types of assets and providing unprecedented buying opportunity for companies such as Dell and Freddie Mac,'' said Dan Schryer, co-founder and managing partner of Venture Asset Group. ``For Exodus' part, selling these assets to a strategic buyer allows it to achieve a price that is far in excess of the return achieved through salvage.''
Other markets where Exodus data centers are available include the Washington, D.C. metro-area, Los Angeles, San Jose and Orange County, Calif. and Seattle. Exodus filed for bankruptcy protection in September 2001.
Exodus recently completed the sale of a substantial portion of its business and assets - approximately 30 IDCs - to British telco Cable & Wireless. Venture Asset Group was retained last December to manage the sale of the U.S. IDCs not included in the Cable & Wireless purchase. Three of the facilities, located in Austin, Texas, Herndon, Va. and Toronto, have recently been purchased by Dell Computer, Freddie Mac and Q9 Networks, respectively. These three facilities represent over 350,000 square feet of data center space and an original investment of over $120 million.
"There is a global reallocation of technology assets currently taking place which is repricing these types of assets and providing unprecedented buying opportunity for companies such as Dell and Freddie Mac,'' said Dan Schryer, co-founder and managing partner of Venture Asset Group. ``For Exodus' part, selling these assets to a strategic buyer allows it to achieve a price that is far in excess of the return achieved through salvage.''
Other markets where Exodus data centers are available include the Washington, D.C. metro-area, Los Angeles, San Jose and Orange County, Calif. and Seattle. Exodus filed for bankruptcy protection in September 2001.
Reads: 1366 | Category: General | Source: TheWHIR : Web Host Industry Reviews
URL source: http://www.thewhir.com/marketwatch/exo032702.cfm
Want to add a website news or press release ? Just do it, it's free! Use add web hosting news!
📅 - 
📅 -