365 Data Centers Acquires US Colocation and Network Business of Sungard Availability Services
365 Data Centers, a leading provider of network-centric colocation and related managed services, has announced its acquisition of Sungard Availability Services’ U.S. colocation and network business. This transaction adds eight, primarily high-density, data center facilities across several rapidly expanding edge markets, a network platform capable of delivering a variety of connectivity offerings, and 400 new customers. The new data center facilities are in Alpharetta (GA), Aurora (CO), Carlstadt (NJ), Marlborough (MA), Philadelphia-Downtown (PA), Rancho Cordova (CA), Richardson (TX), and Smyrna (GA).
365 Data Centers provides colocation, network access, network transport, IP transit, direct cloud on-ramp, cloud compute, cloud storage, Disaster-Recovery-as-a-Service (“DRaaS”), Back-up-as-a-Service (“BaaS”), and business continuity services to over 1700 carrier, content, and enterprise customers.
The company operates 20 network-centric data centers in the following, primarily edge, markets: Alpharetta (GA), Aurora (CO), Boca Raton (FL), Bridgewater (NJ), Buffalo (NY), Carlstadt (NJ), Chicago (IL), Commack (NY), Detroit (MI), Fort Lauderdale (FL), Herndon (VA), Nashville (TN), Marlborough (MA), Philadelphia-University City (PA), Philadelphia-Downtown (PA), New York City (NY), Rancho Cordova (CA), Richardson (TX), Smyrna (GA), and Tampa( FL). These data centers are home to 111 carriers with 300 carrier Points-of-Presence (“PoPs”). The company has an additional 100 network PoPs supporting it high-capacity nationwide fiber network with over 450 peering partners.
“365 has experienced tremendous internal and external growth since its inception in 2017, having now doubled the business three times. This acquisition strategically increases and enhances 365 Data Centers’ market footprint, customer base, data center and network facilities, technical and professional skill set, and revenue and cash flow, all of which benefit our customers, employees, and investors” said 365 Data Centers CEO, Bob DeSantis. “We are now focused on quickly integrating these businesses into the 365 Data Centers platform in a seamless manner for our newly acquired customers. By closely collaborating with 100 new customer focused employees that have joined the 365 Team from Sungard, we are already providing our new customers with continuity of service and support.”
The company’s existing equity owners and 365’s lending syndicate, comprised of TD Securities, which served as lead left arranger, and ING Capital LLC, Regions Capital Markets, a division of Regions Bank, and CIT, a division of First Citizens Bank, all serving as joint lead arrangers, funded the transaction.
Lance Hirt, Managing Partner at Stonecourt Capital LP., commented, “With this acquisition, 365 Data Centers continues to invest into the rapid growth in local data processing demand being driven by the confluence of IOT and edge computing.”
Regarding the transaction Matt Kim, Managing Partner of Lumerity Capital, stated, “this acquisition represents another significant milestone for the 365 organization. It has been a true pleasure working with Bob and the team as they execute on the company’s objectives and build a leading, scaled provider of data center services focused on meeting customer needs.”
Margarit Ivanov, Director at TD Securities, commented, “TD and the rest of the lending syndicate are very excited to support 365 on this important acquisition. We look forward to continue backing the company as they continue to grow the business and successfully execute on their plan.”
Polsinelli PC acted as the company’s deal counsel. Shipman & Goodwin LLP served as 365’s finance counsel.
Originally posted on CISION PRWeb
365 Data Centers Media Contact:
Mark Kolier – Moddern Marketing Services, LLC
1-212-334-9800 x 111
About 365 Data Centers
365 Data Centers is a leading network centric colocation provider operating 13 carrier-neutral data centers located in strategic, primarily edge markets. We offer a comprehensive suite of solutions that includes secure and reliable edge colocation, nationwide network connectivity, cloud compute and storage, DRaaS, BaaS, and business continuity services.