Jul 21, 2004 : Hosted Solutions Buys Redundant IDC
📅 - Web hosting provider Hosted Solutions (hostedsolutions.com), formerly known as Springboard Managed Hosting, has acquired a data center and the customer base of Redundant Networks (redundant.com), according to a report by LocalTechWire. The data center, one of two built by Redundant Networks, is based in Raleigh, North Carolina. The 14,000 square foot Redundant facility includes 12,000 square feet of cages and rack space for servers.
"This acquisition clearly gives us the largest footprint in the Carolinas, and meets all of our criteria for what we feel is needed to be a successful operator in our space. We acquired a facility rich in technology assets at an attractive entry price that we feel we can really leverage," Rich Lee, co-founder of Hosted Solutions, said in a statement.
Hosted Solutions said in the report that it is also planning to expand its workforce by at least 10 employees.
Exact financial terms of the deal were not disclosed, but Lee was quoted in another publication saying the deal was worth "high six figures."
"While most of our competitors took a build it and they will come approach, we have taken a buy it as growth dictates approach," Chris Hanks, co-founder of Hosted Solutions said in the statement. "We now profitably operate three of the most advanced data centers in the Carolinas, and we believe in proven results."
"This acquisition clearly gives us the largest footprint in the Carolinas, and meets all of our criteria for what we feel is needed to be a successful operator in our space. We acquired a facility rich in technology assets at an attractive entry price that we feel we can really leverage," Rich Lee, co-founder of Hosted Solutions, said in a statement.
Hosted Solutions said in the report that it is also planning to expand its workforce by at least 10 employees.
Exact financial terms of the deal were not disclosed, but Lee was quoted in another publication saying the deal was worth "high six figures."
"While most of our competitors took a build it and they will come approach, we have taken a buy it as growth dictates approach," Chris Hanks, co-founder of Hosted Solutions said in the statement. "We now profitably operate three of the most advanced data centers in the Carolinas, and we believe in proven results."
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Company: Hosted Solutions
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