Jul 8, 2008 : DataPipe Secures $75 Million of Funds

📅 July 8, 2008 - Managed IT services provider DataPipe (datapipe.com) announced today it has secured $75 million dollars in combined credit and equity financing led by Goldman Sachs (goldmansachs.com) to immediately begin an expansion of its Somerset, New Jersey campus, which has the potential for 60,000 square feet of data center space.

The Jersey City-based company announced the financing Tuesday and also announced plans for significant expansion in London and China. The company currently has over 1500 customers, six data centers and eight office locations in the United States, the United Kingdom, and China.

"We're very pleased to be fully funded for future growth," DataPipe Founder and CEO Robb Allen said. "This funding will enable us to expand our data center facilities and enhance our service offerings globally; it's great news for our clients," he added.

Goldman Sachs Co-Head of Private Equity Gene Yoon said, "We've been impressed with DataPipe's expertise in the managed hosting market and look forward to pursuing additional growth opportunities in partnership with Robb and the DataPipe management team."

DataPipe's expansion in New Jersey is comparable to Bank of America's announcement last month of their $90 million expansion of their 13-year-old data center in Kansas City.

Reads: 2247 | Category: General | Source: TheWHIR : Web Host Industry Reviews
URL source: http://www.thewhir.com/marketwatch/070808_DataPipe_Secures_$75_Million_of_Funds.cfm

Company: Datapipe

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