Feb 5, 2004 : Redundant Networks Positioning for Sale

📅 February 5, 2004 - Web hosting and network service provider Redundant Networks (redundantnetworks.com) has scaled back its operations in Raleigh, North Carolina and Reno, Nevada, trimming the staff from 24 to 4, according to a report in LocalTechWire.

The report said the cuts were made in order to reduce the company's burn rate and position itself for acquisition.
Janice Fetzer, chief operating officer, told LocalTechWire that the company is currently in the process of speaking to three or four interested parties.
Fetzer added that it may be easier for the separate operations in Raleigh and Reno to be sold separately rather than as a full company. This will not pose a problem for a potential acquiring company, Fetzer says, since the company only has one customer that is utilizing both locations.
Rob Smith, director of sales at Redundant, said that there are companies interested in acquiring the entire organization.

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URL source: http://www.thewhir.com/marketwatch/red020504.cfm
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