Nov 12, 2009 : Terremark Acquires DS3 DataVaulting
📅 - Acquisition of DS3 DataVaulting enhances company's remote data storage, backup offering.
Terremark Worldwide, Inc., a provider of managed IT infrastructure services, today announced that it has acquired DS3 DataVaulting, a data management solutions company, for a purchase price of $11.5 million. The company states that founded in 2002, Fairfax, VA based DS3 provides customers with offsite, online data backup and restore services which enable enterprises and government agencies to securely backup and restore files, databases and operating systems.
It articulates that by offering a cost-effective, efficient and flexible managed storage solution, DS3 represents an ideal strategic fit with its complete set of managed IT infrastructure services. The company states that with a large list of enterprise and government customers, including the National Oceanic and Atmospheric Administration, the addition of DS3 also provides it with a considerable opportunity to up sell its full suite of services to a new customer base. DS3's ability to provide innovative solutions to this strong group of customers has helped it generate an annualized run rate of $6 million in revenues and $1.5 million in EBITDA, it adds.
"Acquiring DS3 enhances our overall data storage offering and helps us accelerate the development of our solutions in the area of managed storage, which is a key growth opportunity driven by the escalating data demands created by new technologies and increasingly stringent regulatory compliance," said Marvin Wheeler, Terremark's Chief Strategy Officer. "Combining DS3's innovative backup and restore offerings with our existing suite of services and top-tier, highly connected facilities significantly adds to the value that our data storage solutions provide to enterprises and Federal government agencies. We also expect to realize cost synergies by relocating DS3's infrastructure to our world-class data centers and eliminating the need to outsource some of our data storage services."
"By adding our talented team of professionals and their strong industry relationships to a company that shares our commitment to quality customer service, we believe that we will maximize the impact our solutions can have," said Stacy Hayes, President of DS3. "We're excited to join the Terremark family and offer Terremark's existing and prospective customers a superior option for their data backup and storage needs."
Terremark Worldwide, Inc., a provider of managed IT infrastructure services, today announced that it has acquired DS3 DataVaulting, a data management solutions company, for a purchase price of $11.5 million. The company states that founded in 2002, Fairfax, VA based DS3 provides customers with offsite, online data backup and restore services which enable enterprises and government agencies to securely backup and restore files, databases and operating systems.
It articulates that by offering a cost-effective, efficient and flexible managed storage solution, DS3 represents an ideal strategic fit with its complete set of managed IT infrastructure services. The company states that with a large list of enterprise and government customers, including the National Oceanic and Atmospheric Administration, the addition of DS3 also provides it with a considerable opportunity to up sell its full suite of services to a new customer base. DS3's ability to provide innovative solutions to this strong group of customers has helped it generate an annualized run rate of $6 million in revenues and $1.5 million in EBITDA, it adds.
"Acquiring DS3 enhances our overall data storage offering and helps us accelerate the development of our solutions in the area of managed storage, which is a key growth opportunity driven by the escalating data demands created by new technologies and increasingly stringent regulatory compliance," said Marvin Wheeler, Terremark's Chief Strategy Officer. "Combining DS3's innovative backup and restore offerings with our existing suite of services and top-tier, highly connected facilities significantly adds to the value that our data storage solutions provide to enterprises and Federal government agencies. We also expect to realize cost synergies by relocating DS3's infrastructure to our world-class data centers and eliminating the need to outsource some of our data storage services."
"By adding our talented team of professionals and their strong industry relationships to a company that shares our commitment to quality customer service, we believe that we will maximize the impact our solutions can have," said Stacy Hayes, President of DS3. "We're excited to join the Terremark family and offer Terremark's existing and prospective customers a superior option for their data backup and storage needs."
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