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BOSTON – Iron Mountain Incorporated (NYSE: IRM), the storage and information management services company, has acquired EvoSwitch Netherlands B.V and EvoSwitch Global Services B.V. (“EvoSwitch NL”) for €205 ($235) million. The transaction provides 11 megawatts (MW) of existing data center capacity in the Netherlands, which is 100% leased, with expansion capability of an additional 23 MW, for total potential capacity of 34 MW.

Founded in 2007, EvoSwitch NL is a leading global brand and provider of multi-tenant data center space, operating one of the largest colocation facilities centers in the Metropolitan Region Amsterdam (MRA). Its existing campus supports more than 50 connectivity and telecommunication providers, including world-leading internet exchanges, such as the Amsterdam Internet Exchange AMS-IX. The MRA is a critical node in the FLAP data center market (Frankfurt, London, Amsterdam, Paris), which totaled approximately 1160 MW at the end of 2017. The MRA experienced net absorption of more than 21 MW of space in the fourth quarter of 2017, making it the second largest data center market in Europe and a Top 5 global market. This transaction enhances Iron Mountain’s presence in the important FLAP market, following Iron Mountain’s move into London early this year through the purchase of a data center facility from Credit Suisse.

The MRA region also boasts the lowest average energy prices and the most reliable energy grid among FLAP markets. EvoSwitch NL has focused on sustainable operations since its founding and had the first 100% carbon neutral data center facility in the Netherlands using wind, hydro and biomass power, consistent with Iron Mountain’s commitment to offsetting 100% of its data center carbon footprint.

EvoSwitch NL has a diversified base of global customers including multinational enterprises, cloud service providers and public sector institutions. Leaseweb Netherlands B.V., (“Leaseweb NL”), a related party of the seller and a large cloud hosting company with operations in 35 countries, represents approximately 45% of EvoSwitch NL’s contracted revenue under a 10-year lease agreement, making it one of Iron Mountain Data Centers’ Top 5 customers. No other customer represents more than 15 percent of total revenue.

The EvoSwitch NL data center acquisition includes two locations in the MRA. The first is a state-of-the-art facility totaling 150,000 square feet of space with 87,000 square feet of existing data halls, representing approximately 11 MW of existing power capacity. Expansion of a further 2 MW is underway at this location, with 600 kilowatts preleased to Leaseweb NL. This location is expandable to a total of 430,000 square feet of space that can support additional data halls totaling 14 MW, bringing the first location to 27 MW of total potential capacity.

The second location is a site that can support a 57,000 square-foot facility including 41,000 square feet of data hall development. Expansion capacity at this site can support a further 7 MW, bringing total potential capacity for the two locations to 34 MW.

“We are pleased to welcome the EvoSwitch team and its customers to Iron Mountain. The seasoned management team has operated in the data center business for more than 11 years and delivered consistent growth,” said Mark Kidd, senior vice president and general manager, Iron Mountain Data Centers. “EvoSwitch NL’s focus on security, energy efficiency and its solid track record of continuous uptime is a great fit with our existing data center organization. When combined with current and potential capacity in Iron Mountain’s existing data center portfolio, our total portfolio now represents more than 285 MW across many of the most attractive and highest net absorption markets in the U.S. and globally.

“Having established our significant international data center platform through both recent transactions and organic growth, we look forward to continued integration of the business, and our near-term growth will be primarily from the development of new space in the attractive global markets where we have a presence,” Kidd added.

Eric Boonstra, chief executive officer, EvoSwitch said, “We look forward to combining our EvoSwitch NL business with that of Iron Mountain Data Centers, which shares our commitment to customer service and operational excellence. This transaction represents an opportunity for us to extend relationships with our existing customers by providing data center expansion capacity in important continental European markets, and the potential to provide capacity in the important Amsterdam region to Iron Mountain’s legacy data center customer base.”

Leaseweb founder and CEO Con Zwinkels added, “We share Eric’s enthusiasm for this acquisition of EvoSwitch NL. As a global cloud hosting company serving more than 17,500 customers worldwide, it is important for us to accommodate their growing needs. Through this transaction, Leaseweb has improved access to a broad portfolio that includes Iron Mountain’s data centers around the globe. We are pleased to be partnering with a company that has such a strong reputation for security and reliability.”

Transaction Economics

The consideration of €205 ($235) million, represents a multiple of approximately 14x 2018 EBITDA, excluding integration expense. The purchase agreement also includes a future revenue credit to Leaseweb, in the amount of $25 million, which may be utilized for future expansion and new leasing in any of Iron Mountain Data Centers’ other global locations prior to June 2028, subject to other terms.

Iron Mountain projects a stabilized net operating income yield of 12% – 13% following build-out and lease-up of the expansion capacity at the EvoSwitch NL locations. The existing EvoSwitch NL capacity is expected to generate annualized revenue of approximately $30 million at mid-50% Adjusted EBITDA margins. Including integration costs, Iron Mountain expects the transaction to result in modest AFFO dilution of approximately 0.5% in 2018, and for the acquisition to be accretive in 2019 following integration.

While the EvoSwitch NL acquisition was not part of Iron Mountain’s previously disclosed 2020 plan, the transaction supports the company’s goal to accelerate Revenue and Adjusted EBITDA growth through a shift in mix to faster-growing, higher-margin businesses. The transaction is debt financed. The company remains on track to reduce its lease-adjusted leverage ratio to the mid-5x range by year-end 2018, and is committed to its 2020 plan to reduce its leverage ratio to approximately 5x, and lower its dividend payout as a percentage of Adjusted Funds From Operations to 70% – 75%, assuming annual dividend per share growth of approximately 4%.

About EvoSwitch NL
EvoSwitch NL was founded in 2007 as part of the Ocom Group (www.ocom.com), Europe’s largest privately owned internet services company, and the first carbon and carrier-neutral data center in the Netherlands. Since then it has grown continuously, reflecting the growth of the Internet in general and its customers in particular. Following through on its carrier-neutral proposition, it has also built up a diverse ecosystem of telecommunications carriers and network service providers that help customers connect cost-effectively and with confidence. Following the sale of EvoSwitch NL, the selling entity, EvoSwitch International B.V. will remain part of the Ocom Group and will continue as a brand and data center operator, with operating companies EvoSwitch Germany GMBH and EvoSwitch USA, Inc.

About Iron Mountain
Iron Mountain Incorporated (NYSE: IRM), founded in 1951, is the global leader for storage and information management services. Trusted by more than 225,000 organizations around the world, and with a real estate network of more than 85 million square feet across more than 1,400 facilities in over 50 countries, Iron Mountain stores and protects billions of valued assets, including critical business information, highly sensitive data, and cultural and historical artifacts. Providing solutions that include information management, digital transformation, secure storage, secure destruction, as well as data centers, cloud services and art storage and logistics, Iron Mountain helps customers lower cost and risk, comply with regulations, recover from disaster, and enable a more digital way of working. Visit www.ironmountain.com for more information.

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VANCOUVER, BC – Inspur, an OpenStack Foundation Gold member, today released version 5.5 of its InCloud OpenStack cloud operating system at the OpenStack Summit in Vancouver. The software, widely used in the financial services, securities and enterprise sectors in China, offers new capabilities in large-scale services delivery across multiple availability zones and geographies, accessibility and ease of management, stability and scalability, and intelligent operation and maintenance.

The newest version of InCloud OpenStack adds:

  • Features for large-scale deployments. InCloud OpenStack 5.5 can support multiple data centers across multiple regions. In one implementation, Inspur achieved an OpenStack deployment with around 1,000 nodes in a single region for a non-telecom customer and a total of more than 1,400 nodes are in production. InCloud OpenStack offers one-click deployment and graphical resource layout via containerized images that are independent of the host operating system. Resource arrangement is managed visually with system templates or a custom drag-and-drop template.
  • Unified management of diverse compute types. InCloud OpenStack 5.5 offers unified management of virtual machines (VMs), bare metal instances, and containers on the same platform. Resources can be adjusted in parallel to achieve integration and sharing of cluster computing, storage and network resources to reduce operation, maintenance and management costs.
  • Multi-region support. The switch from test deployment to large-scale production deployment presents challenges for OpenStack operators. To achieve large-scale data center delivery capabilities, InCloud OpenStack 5.5 optimizes multi-region management to achieve division and separate management of large clusters. All regions use the same set of Keystone systems to resolve the system bottlenecks caused by cluster expansion.
  • Layered security. InCloud OpenStack adopts a layered security enhancement design to better secure the cloud platform from the dimensions of the hypervisor system, VMs and user access. It adopts Inspur’s security sector governance products to reinforce the hypervisor and VM layers.
  • Disaster tolerance. InCloud OpenStack 5.5 offers disaster recovery capability that spans multiple data centers. A current InCloud OpenStack deployment covers three data centers in two regions. The solution provides disaster tolerance for dual center, dual active capability within 150km in the same city and remote data center recovery. The solution uses Inspur’s proprietary network facility, centralized storage facilities and cloud management to guarantee business continuity in terms of data, network and business operation for customers. The solution can effectively help customers save costs, increase operational reliability and achieve efficient failure management with one-click visual failure switching solutions.

“The growth of OpenStack in China is impressive,” said Jay Zhang, vice president of Inspur. “Over the next five years, we expect a CAGR of 40 percent for this market segment. Ongoing development of standardized APIs and excellent heterogeneous resource management and programmability are key drivers in the thriving OpenStack ecosystem, and Inspur plans to maintain and expand its OpenStack leadership, taking full advantage of this growth trend.”

Inspur is a leading innovator in open compute and open technologies, and major proponent for OCP, ODCC, Open19, OpenStack and Openpower foundations. Inspur strives to build a design base and then to customize and meet efficiency standards. Meanwhile, Inspur will contribute to those communities by providing access to technologies through open source sharing, and to assist the convergence of fellow communities and open source applications.

“Inspur is a Gold member of the OpenStack Foundation and has been throwing investment year upon year participation in OpenStack.” Said Jonathan Bryce, executive director at OpenStack Foundation, “We move forward the community with contributions from companies. Inspur has dozens of developers who contribute to different projects in OpenStack and has worked to build OpenStack appointment in China which is one of the fast-growing markets.”

About Inspur
Inspur is a leading global provider of cutting-edge data center and cloud computing solutions, aspiring to deliver continuously more innovative and efficient solutions to meet rapidly growing technology demands. Working with over 1,000 enterprises around the world, Inspur delivers top-tier quality and performance, energy and cost efficiency, and purpose-built solutions to specific workloads and data center environments. Inspur is a Gold member of the OpenStack Foundation. For the most-recent public release—Queens—Inspur’s upstream contributions have doubled over the previous version, Pike. Also, Inspur is a silver sponsor of Apache Software Foundation and a member of both the Linux Foundation and the Cloud Native Computing Foundation.

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NEW YORK, NY – VSS, a private investment firm, today announced its investment in QuadraNet, a full-service data center provider that offers managed services, both private and public cloud solutions, IaaS deployments, and traditional colocation and IP transit services. QuadraNet’s services span across the United States in well-known peering-exchange locations, including: Los Angeles, Dallas, Miami, Atlanta, Chicago, and New Jersey. Along with physical presences in each of these locations, they also offer services out of various “virtual Points-Of-Presences” (POPs) allowing streamlined service deployments in other locations, such as New York, Virginia, Missouri, Arizona and overseas in Amsterdam.

QuadraNet was founded almost two decades ago in 2001 by Ilan Mishan. As the company grew, they became a dedicated provider in geographically diverse bespoke services, known historically for their competitive offerings in the colocation marketplace. From single-server rackspace offerings, cabinet space (fractional and full cabinets), all the way to fully tailored private suites that are built out of compliance and client requirements.


Additionally, QuadraNet is well-known in the marketplace for Infrastructure-as-a-Service (IaaS) solutions; now available both in a traditional fashion as well as with virtualization options that provide clients with unwavering flexibility when it comes to delivering the right solution for the specific service role and performance requirements.

QuadraNet’s long-standing history has always been intrinsically involved in the bandwidth and IP Transit marketplace. Through the relationships formed organically over time with all the major carriers in their strategically located data centers that are well-known peering-exchange points, QuadraNet effectively leverages their relationships and history to provide unparalleled Layer 2 IP Transport and Layer 3 IP Transit solutions to their clientele through the most popular and sought out carriers in the market, both domestic and international (e.g. Equinix, Zayo, Coresite, Telefonica).

Lastly, an increasing amount of QuadraNet’s growth has been driven by their focused efforts expanding from the SMB space into offering high-quality Enterprise Solutions; deployments that are completely architected for meeting the higher-availability requirements and compliance requirements of a wide-range of enterprises and industries.

“We look forward to working with the VSS team, leveraging their experience in IT and cloud services to propel QuadraNet’s growth,” said Ilan Mishan, CEO of QuadraNet, further elaborating, “VSS’s investment will be key in expanding geographically and providing our clients with even higher levels of service and satisfaction.”

Trent Hickman, VSS Managing Director, added, “QuadraNet has grown impressively and we see a terrific opportunity to assist them in further expanding their reach and deepening their penetration of existing markets. We are thrilled to partner with Ilan Mishan and the strong team he has built over the years. We’re excited to leverage our experience in their next phase of strong growth.”

VSS has over 25 years of experience in the IT services sector, with prior investments including Coretelligent, a provider of comprehensive IT and private cloud services; Hostway, a provider of web hosting solutions; and IT-Ernity, a provider of mission-critical managed hosting services in the Netherlands.

About VSS
VSS is a private investment firm that invests in the information, education, healthcare, and tech-enabled business services industries. VSS provides capital for growth financings, recapitalizations, strategic acquisitions and buyouts to lower middle market companies and management teams with the goal of building companies organically as well as through a focused add-on acquisition program. VSS makes privately-negotiated investments across the capital structure and has the ability to invest in situations requiring control or non-control equity, mezzanine securities and structured equity securities.

About QuadraNet
QuadraNet, Inc. is a full-service data center provider headquartered in downtown Los Angeles, California — one of the most well-regarded peering-exchanges locations. Their data center locations include the cities of Los Angeles, Dallas, Miami, Atlanta, Chicago, and New Jersey. QuadraNet’s exclusive services and large portfolio of services, all engineered and optimized with their proprietarily developed Intelligent Monitoring Platform (IMP) include infrastructure as a service (IaaS) deployments; colocation and data center space of all sizes; both managed services and remote hands services; public and private cloud service offerings; bespoke enterprise-architected solutions, and traditional dedicated services and IP Transit services that have high-capacity backbones world-wide.

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SAN ANTONIO, TX – Rackspace® announced it has acquired RelationEdge®, a full-service Salesforce Platinum Consulting Partner and digital agency that helps clients engage with their customers from lead to loyalty by improving business process, leveraging technology, and integrating creative digital marketing.

Software-as-a-service (SaaS) applications like Salesforce® are a growing component of many companies’ digital transformation journey. With this acquisition, Rackspace expands its ability to be a preferred partner for managing a customer’s complete application portfolio through continuous transition to modern technologies, including SaaS applications. Rackspace has built one of the industry’s broadest portfolios of IT services and expertise across applications, data, security, and infrastructure.


“We have acquired RelationEdge in response to the growing demand we’re hearing from customers,” said Gerard Brossard, EVP and general manager of Rackspace Application Services. “Enterprise and midmarket companies are increasingly deploying SaaS applications to enhance business processes across many departments, from sales and marketing to customer service, operations, HR, and finance. These applications are powerful, but also complex to implement and costly to continually keep up-to-date. RelationEdge further extends Rackspace’s unrivaled portfolio and expertise to help companies navigate and operate in the world of ever-changing IT.”

“The line between managed services and professional services is blurring. Enterprise customers want a trusted advisor who can help them navigate their end-to-end digital transformation journey as they adopt next generation SaaS environments” said Michelle Bailey, Group Vice President, General Manager and Research Fellow, IDC. “Rackspace’s acquisition of RelationEdge addresses this enterprise customer need and fits the evolving company strategy to be a leading IT services provider.”

Based in San Diego, CA where it was founded in 2013, RelationEdge has since opened offices in a dozen cities across the U.S. It is a growing and profitable business with 125 employees. Rackspace intends to operate the business with considerable independence under its current leadership and the RelationEdge brand, which is well known and respected among Salesforce’s leaders and customers.

“We are very proud of what we’ve built,” said Matt Stoyka, RelationEdge founder and CEO. “We’re also excited about what we still can achieve in this fast-growing market by joining forces with Rackspace. The two companies are a great fit culturally as both differentiate themselves through exceptional customer service. RelationEdge’s Process First, Technology Second® approach perfectly complements Rackspace’s approach to provide unbiased expertise across all leading technologies and to deliver the best-fit solution for each customer’s unique needs.”

“We are happy to see Rackspace and RelationEdge come together,” said Kori O’Brien, Senior Vice President, North America Alliances & Channels at Salesforce. “RelationEdge has been a valuable partner in the Salesforce ecosystem. The combination of RelationEdge’s unique process-first approach to solving business problems, and Rackspace’s transformation and technology expertise, will allow both companies to provide greater service and solutions to fuel customer success.”

Both companies are privately held, with Rackspace owned by affiliates of certain funds of Apollo Global Management, LLC and certain co-investors. RelationEdge was owned by its founders, its regional market leaders, and Tide Rock Ventures. Financial details are not being disclosed.

About Rackspace
Rackspace is a leading provider of IT as a service in today’s multi-cloud world. It delivers expert advice and integrated managed services across applications, data, security and infrastructure, including public and private clouds and managed hosting. Rackspace partners with every leading technology provider, including Alibaba, AWS, Google, Microsoft, OpenStack, Oracle, SAP, and VMware. The company is uniquely positioned to provide unbiased expertise on which technologies will best serve each customer’s needs. Rackspace was named a leader in the 2018 Gartner Magic Quadrant for Public Cloud Infrastructure Managed Service Providers, Worldwide and has been honored by Fortune, Glassdoor and others as one of the best places to work. Based in San Antonio, Texas, Rackspace serves more than 140,000 business customers, including most of the Fortune 100, from data centers on five continents. Learn more at rackspace.com.

About RelationEdge
RelationEdge is a Salesforce Platinum Consulting Partner and Digital Agency that helps companies implement, customize and integrate Salesforce, and provides ongoing services and support to continually adapt the platform to meet changing business requirements. RelationEdge uses marketing and technology to get from lead to loyalty. For more information, please visit relationedge.com.

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TAMPA, FL – Hivelocity, a global provider of dedicated servers, cloud hosting, colocation and managed services, announced today the addition of AMD EPYC to its line of Instantly Deployable Dedicated Servers. Hivelocity currently offers 20 unique server configurations which deploy in minutes at their data centers in Tampa, Atlanta, Los Angeles and New York City. Customers with more than a few minutes to spare can custom configure their servers with thousands of customizable options and same day deployment.

“For the last decade plus we have offered Intel Xeon servers exclusively to our customers. When AMD introduced it’s new line of EPYC processors we were skeptical. It is no secret that AMD has let down our industry before with previous attempts like Bulldozer. Not only have the EPYCs not been a disappointment, they have truly blown away our expectations. We have early adopter customers using EPYCs for months who are telling us they have gone from maxing out their previous Dual E5 Xeons to about 25% load on their new EPYCs,” according to Hivelocity’s COO, Steve Eschweiler. “We asked a 3rd party to run some bench mark tests on these AMD systems to provide customers with an unbiased impression of their performance. The results of these tests can be found at https://www.hivelocity.net/blog/amd-epyc-benchmarks/.”


Hivelocity provides high-performance data center services to thousands of customers from over 130 countries since 2002. In September of 2017 Hivelocity completed the acquisition of Rack Alley, an IaaS provider with data centers in Los Angeles. AMD recently conducted a case study on Hivelocity which can be found at – https://www.amd.com/Documents/Delive…h-AMD-EPYC.pdf

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REDWOOD CITY, CA & LONDON – Equinix, Inc. (Nasdaq: EQIX), the global interconnection and data center company, today announced it will expand its LD4 International Business Exchange™ (IBX®) data center at its London Slough campus. The new phase supports the continued growth of the world’s largest multi-asset class electronic trading ecosystem which consists of a robust collection of interconnected execution venues, trading platforms, market data vendors, service providers, buy-side firms, and sell-side firms. The new $39 million USD (£29M GBP) expansion is scheduled to open Q4 2018.

The new expansion of the LD4 data center will enable customers to interconnect securely with 1,000+ businesses in London including leading capital markets participants, insurers and electronic payments firms, as well as 200+ network service providers and 275+ cloud and IT service providers. Today LD4 has 3,777 cabinets in approximately 10,000 square meters of colocation area; the expansion will add an additional 1,075 cabinets in approximately 3,300 square meters of colocation area.


Leading financial services companies such as Nasdaq leverage Equinix’s global interconnection platform — Platform Equinix™ — to securely transact with ecosystem participants. As the creator of the world’s first electronic stock market, Nasdaq has deployed with Equinix in LD4 in London, as well as New York City for close proximity to customers and partners who demand high performance, low latency connectivity. This private connectivity allows for sharing large amounts of data with multiple stakeholders through private business exchanges, securely bypassing the public internet completely.

According to the Global Interconnection Index, interconnection bandwidth in Europe is expected to grow to reach 1450+Tbps by 2020, contributing more than a quarter of interconnection bandwidth globally. Banking and Insurance is expected to grow to reach 955+ Tbps of interconnection bandwidth by 2020. Furthermore, London is set to quadruple its private data exchange from 114 Tbps to 486 Tbps.

With over 90 network service providers and access to a range of transatlantic cables, the London Slough campus is one of the busiest network nodes in the UK, and offers latency in the region of 30 milliseconds to New York and 4 milliseconds to Frankfurt, making it an ideal high-performance hub for electronic trading, as well as cloud and content service provision.

Equinix will be hosting a full day event on May 16 in London called “Innovation through Interconnection”. The event will feature presentations and panel discussions on trends such as how multicloud and hyperscale computing, IoT and digital payments are changing the way businesses operate and interconnect. Speakers include executives from Nasdaq, Cobalt, JustEat, European Connected Health Alliance, CGI, Jaguar Land Rover, Hitachi Vantara, Perform Media and Colt. For more information, visit https://eqix.it/ITI18

About Equinix
Equinix, Inc. (Nasdaq: EQIX) connects the world’s leading businesses to their customers, employees and partners inside the most-interconnected data centers. In 52 markets worldwide, Equinix is where companies come together to realize new opportunities and accelerate their business, IT and cloud strategies. www.equinix.com.

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