Mar, 2002 : ViaWest to Acquire Verado's Denver Data Center
📅 - ViaWest Internet Services, Inc. (viawest.net -> viawest.com -> flexential.com), a regionalprovider of hosting, Internet infrastructure and access to businesses,announced today it has reached an agreement to acquire the physical andcustomer assets of Verado Holdings Inc.'s (verado.com) 23,850 square foot Englewood Data Center.
This announcement follows Verado's Feb. 15 filing for Chapter 11 bankruptcyprotection, in which the company stated it had sold its Irvine, Californiadata center, and was looking to sell its Denver data center as a goingconcern. The agreement is subject to bankruptcy court approval pursuant to asection 363 motion filed by Verado on March 1, 2002 in the US BankruptcyCourt in the District of Delaware.
ViaWest has agreed to purchase the data center assets in a deal thatprovides ViaWest with a Class A south Denver co-location facility that hasbeen operational since 1999. As part of the purchase agreement, Verado hasagreed to operate the data center through March. ViaWest anticipates takingover operations as of April 1, 2002, pending bankruptcy court approval ofthe agreement.
"Verado's bankruptcy filing presented us with an opportunity to increase ourmarket presence with a high caliber facility in a prime location," said RoyDimoff, CEO of ViaWest. "It also provided us with additional data centercapacity for a fraction of what it would cost to build it ourselves."
ViaWest plans to use its new data center as an adjunct to its existingdowntown Denver data center that is currently at 90% capacity. ViaWestestimates the Verado purchase will curb the company's immediate need for anexpansion at its downtown location, and provide it with enough space to meetits needs for the next eight to twelve months.
"It's a testament to ViaWest's success that we were in the financialposition to make this purchase," said Dimoff. "Few, if any, suppliers inthis market are currently looking for additional space - most are looking toreduce their current square footage."
This announcement follows Verado's Feb. 15 filing for Chapter 11 bankruptcyprotection, in which the company stated it had sold its Irvine, Californiadata center, and was looking to sell its Denver data center as a goingconcern. The agreement is subject to bankruptcy court approval pursuant to asection 363 motion filed by Verado on March 1, 2002 in the US BankruptcyCourt in the District of Delaware.
ViaWest has agreed to purchase the data center assets in a deal thatprovides ViaWest with a Class A south Denver co-location facility that hasbeen operational since 1999. As part of the purchase agreement, Verado hasagreed to operate the data center through March. ViaWest anticipates takingover operations as of April 1, 2002, pending bankruptcy court approval ofthe agreement.
"Verado's bankruptcy filing presented us with an opportunity to increase ourmarket presence with a high caliber facility in a prime location," said RoyDimoff, CEO of ViaWest. "It also provided us with additional data centercapacity for a fraction of what it would cost to build it ourselves."
ViaWest plans to use its new data center as an adjunct to its existingdowntown Denver data center that is currently at 90% capacity. ViaWestestimates the Verado purchase will curb the company's immediate need for anexpansion at its downtown location, and provide it with enough space to meetits needs for the next eight to twelve months.
"It's a testament to ViaWest's success that we were in the financialposition to make this purchase," said Dimoff. "Few, if any, suppliers inthis market are currently looking for additional space - most are looking toreduce their current square footage."
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Company: Via West.net [viawest.net -> viawest.com -> flexential.com]
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