May 22, 2001 : Verado Sells Optec Web Integration

📅 May 22, 2001 - Verado Holdings Inc. (verado.com), a provider of outsourced managed hosting and data center solutions, announced on Tuesday that it had completed the sale of its Portland-based subsidiary Optec Inc. to an affiliate of JMW Capital Partners, Inc.
The announcement came shortly after the news that Verado has completed its nationwide network, and is part of the company's strategy of divesting its non-data center assets in the interest of focusing on providing outsourced managed services.
?The sale of Optec and additional recent divestitures of our non-data center business bring us closer to fulfilling our promise to our shareholders and the marketplace to focus on Verado's core business of providing secure, outsourced managed services to its data center customers,? said Tom McGrath, president and CEO of Verado. ?We are pleased to accomplish these divestitures and believe that it further enhances our ability to become a leader in the managed hosting and data center market.?
The announcement follows Verado's news last month of its exit from telephony operations in Anaheim, California, and the sale of its dial-up subscriber base to EarthLink.
Verado purchased Optec, a Web integration services provider, from Enron Communications Inc. in 1998. Optec employs 67 people. Denver-based Daniels & Associates, a media and telecommunications mergers and acquisitions specialist, represented Verado on the sale of Optec.