Posts Tagged ‘Acquisitions’
Tuesday, November 30th, 2010
 RALEIGH, NC – Raleigh-based Red Hat Inc. (NYSE: RHT), a provider of open source solutions, has acquired Makara, a developer of deployment and management solutions for applications in the cloud. Makara’s technologies will accelerate the development of Red Hat’s comprehensive Platform-as-a-Service (PaaS) solution as part of its Cloud Foundations portfolio. Financial details of the transaction were not disclosed.
Based in Redwood City, CA, Makara provides solutions to enable organizations to deploy, manage, monitor and scale their applications on both private or public clouds. Customers facing issues in moving applications to the cloud and managing them efficiently can benefit from Makara’s solutions for scaling, rightsizing, rollback and monitoring.
By integrating the JBoss Enterprise Middleware infrastructure with Makara’s Cloud Application Platform, Red Hat can offer a more comprehensive PaaS solution that allows organizations to quickly transition their applications to both public and private clouds with minimal modifications.
“PaaS is becoming another market for software vendors looking to deliver compelling enterprise solutions in the cloud,” said Rachel Chalmers, research director at the 451 Group. “By acquiring the cloud technologies developed by Makara, Red Hat is now in a position to address this market by creating solutions for enterprises looking for deployment, management and auto-scaling capabilities to be baked into the core platform.”
Tags: Acquisitions, CA, cloud technology, Makara, NC, open source software, Raleigh, Red Hat, Redwood City
Posted in Acquisitions, Carolinas, IT, North Carolina | Comments Off
Tuesday, November 23rd, 2010
 RESEARCH TRIANGLE PARK, NC – Digitalsmiths, which sells video metadata software that helps companies index and monetize content, has acquired Woburn, Massachusetts-based Gotuit Media Corp. for an undisclosed sum.
“Deep metadata is the engine that powers the consumption of digital media. The combination of Digitalsmiths and Gotuit provides an end-to-end solution for powering multi-platform content personalization,” said Colin Dixon of The Diffusion Group.
“Bringing together search, discovery, recommendations and targeted advertising will help content owners generate revenue and consumers discover more relevant content,” he added.
The way video is capturing eyes online and on mobile bodes well for companies such as Digitalsmiths. Indexing video content and making money from it are still troublesome for many video providers, though, and that’s where Digitalsmiths comes in. Digitalsmiths’ customers include today’s leading Hollywood studios, broadcasters, distributors and publishers including Warner Bros., Telepictures and TMZ.com.
“Digitalsmiths has created the first and only singularly focused next-generation video metadata company,” said Ben Weinberger, CEO of Digitalsmiths. “By combining our ability to scale libraries of content and Gotuit’s broadcast capabilities, we’ve created the most comprehensive solution for video indexing and metadata monetization available to serve the media industry across multiple platforms and content types – movies, sports, news and television for both library media and live broadcasts.”
Digitalsmiths now controls more than 35 patents covering core metadata creation, aggregation and application, among others.
Venture backed . Digitalsmiths’ existing investors include .406 Ventures, Chrysalis Ventures, The Aurora Fund and Cisco Systems.
Tags: Acquisitions, Ben Weinberger, Digitalsmiths, Gotuit, M&A, NC, Research Triangle Park, video indexing and monetization, Woburn
Posted in Acquisitions, Carolinas, IT, North Carolina | Comments Off
Friday, November 12th, 2010
 Tina Brown, editor of The Daily Beast, and now, Newsweek NEW YORK – In a move that may be a sign of things to come, the venerable Newsweek magazine and the online news site The Daily Beast have agreed to merge their operations.
Tina Brown, the flamboyant editor of The Daily Beast, who previously edited such iconic magazine properties as the UK-based Tattler, The New Yorker and Vanity Fair, as well as the less successful Talk, will edit both publications.
The joint venture will be owned equally by IAC (Nasdaq:IACI), which owns The Daily Beast, and Sidney Harman, who will act as executive chair. Harman acquired the faltering Newsweek from the Washington Post Co. last summer.
Harman is no stranger to technology. He is founder and chairman emeritus of Harman International, the worldwide audio manufacturer. He served as U.S. Deputy Secretary of Commerce, founded the Program on Technology, Public Policy and Human Development at Harvard University and holds a Presidential Chair at the University of Southern California where he is Professor of Polymathy. He’s a trustee of the California Institute of Technology.
President of The Daily Beast, Stephen Colvin, will serve as CEO of the combined venture.
May need extraordinary measures
We have admired Brown’s magazine editing for years, but yanking Newsweek out of the doldrums may require some sort of extraordinary effort. The magazine saw its weekly sales and subscription numbers plummet in the Internet age where weekly news is ancient history.
Brown transformed the New Yorker into a modern magazine, bringing color to its pages for the first time. Her Vanity Fair grabbed national attention for its daring covers and stories. Brown has said in interviews about the merger that the Internet is “like a beast,” in its constant need for fresh, lively, relatively short copy, while print may be able to do something complementary
So Brown sees promise in the combination.
“I see Newsweek and the Beast as a marriage between Newsweek’s journalistic depth and the vibrant versatility The Daily Beast has realized on the web,” said Brown. “The metabolism of The Daily Beast will help power the resurgence of Newsweek and Newsweek amplifies the range of talent and audience The Daily Beast can reach. The two entities together offer writers, photographers and marketers a powerful dual platform.”
Daily Beast rose to rapid prominence
Created by Tina Brown and IAC in October of 2008, The Daily Beast is a website dedicated to news and commentary, culture and entertainment that has quickly become one of the most recognized national news brands. The two-year old business has swiftly reached an audience of nearly 5 million monthly unique visitors and has just been rated by TIME magazine this year as one of the five best news sites in the country.
If Brown is successful in resurrecting Newsweek as a print publication, it could lead to similar attempts to combine online news and feature outlets with struggling print operations. On the other hand, it could further demonstrate that certain categories of print magazines are doomed–as print, anyway.
Brown seems to think that print publications can be retooled to offer in depth journalism that is seldom seen online, yet benefit from online connections.
As much as we would like to see this succeed, we have our doubts.
Allan Maurer
To email TJS Editor/writer Allan Maurer: Allan at TechJournalSouth dot com.
Tags: Acquisitions, Daily Beast, IAC, Newsweek, Sid Harman, Stephen Colvin, Tina Brown, Washington Post Co.
Posted in Acquisitions, Internet/New Media | 1 Comment »
Thursday, November 11th, 2010
 HERNDON, VA – ePlus inc. (Nasdaq:PLUS) says that its subsidiary, ePlus Technology inc., has acquired the operating business of Interchange Technologies Inc. (ITI), a Tandberg Platinum Partner with advanced expertise in audio and video communication technologies. Financial details of the transaction were not disclosed.
ePlus has formed an “Advanced Audio and Video Solutions” practice with the capability to design powerful video and distribution solutions around clients’ specific needs for enhanced collaboration. This practice expands the networked technology offerings available from ePlus and enhances its ability to deliver complete, purpose-designed, interoperable infrastructure solutions.
ePlus is a Cisco Gold Certified Partner and has achieved Cisco Master specializations in Security and Unified Communications as well as the Cisco Managed Services Master Certification.
Tags: Acquisitions, audio video tech, ePlus, Herndon, Interchange Technologies, IT, VA
Posted in Acquisitions, IT, Potomac, Virginia | Comments Off
Thursday, November 11th, 2010
 MCLEAN, VA - Primus Telecommunications Group Inc. (OTCBB: PMUG), a global facilities-based integrated provider of advanced telecommunications products and services, has agreed to acquire Arbinet Corp. (NASDAQ: ARBX), a leading provider of wholesale telecom exchange services to carriers, for $28 million in an all-stock transaction.
Primus is a provider of advanced communication solutions, including, traditional and IP voice, data, mobile services, broadband Internet, collocation, hosting, and outsourced managed services to business and residential customers in the United States, Canada, Australia, and Brazil.
Arbinet is a provider of international voice, data and managed communications services for fixed, mobile and wholesale carriers. With more than 1,200 carrier customers across the globe.
Primus says the combination of its global wholesale business with Arbinet should enhance global competitive positioning by allowing customers to access more global routes at competitive rates and diversifies the product portfolio of international voice and data services across all existing customer segments.
The company expects that the combination will improve gross margins and resulting EBITDA by eliminating operating redundancies and adding the benefits of increased scale.
Founded in 1994, Primus is headquartered in McLean, Virginia. Founded in 1997, Arbinet is headquartered in Herndon, Virginia.
Tags: Acquisitions, Herndon, McLean, telecom, VA
Posted in Acquisitions, Internet/New Media, Telecommunications | Comments Off
Thursday, November 4th, 2010
 ATLANTA - Cbeyond Inc. (NASDAQ: CBEY), a provider of IT and communications services to 55,000 small businesses across the country, has acquired the assets of MaximumASP and its affiliated companies, as well as the outstanding stock of privately held Aretta Communications in a combined cash deal valued at $40 million.
MaximumASP provides cloud services such as managed virtual servers and dedicated servers, and Aretta Communications provides cloud services such as cloud PBXs (private branch exchange) and SIP (Session Internet Protocol) trunking. Both companies target small- and medium-sized businesses throughout the U.S.
“The acquisition of MaximumASP and Aretta Communications is an important step forward for Cbeyond’s business,” said Jim Geiger, chief executive officer of Cbeyond. “We believe these acquisitions will provide significant growth opportunities, leverage our existing channels of distribution, and expand our innovative technology and expertise.”
Cbeyond offers more than 30 productivity-enhancing applications including local and long-distance voice, broadband Internet, mobile, BlackBerry, broadband laptop access, voicemail, email, web hosting, fax-to-email, data backup, file-sharing and virtual private networking.
Tags: Acquisitions, Aretta Communications, Atlanta, Cbeyond, GA, MaximumASP, telecom
Posted in Acquisitions, Georgia, Internet/New Media, Telecommunications | Comments Off
Thursday, November 4th, 2010
 RALEIGH, NC – Arkansas-based Windstream Corp. (Nasdaq:WIN) is buying Raleigh-based Hosted Solutions in an all cash deal worth $310 million.
Hosted Solutions is a regional data center and managed hosting provider focused on enterprise-class Infrastructure as a Service solutions (managed hosting, managed services, colocation, cloud computing and bandwidth) for small and medium-sized business customers as well as large enterprises.
The company serves more than 600 customers and has approximately 125 employees. It was acquired by PE firm ABRY in 2008 fro $140 million.
The acquisition of Hosted Solutions will transform Windstream’s data center business, increasing the scale and scope by adding five state-of-the-art SAS 70 Type II certified data centers in Raleigh, N.C.; Charlotte, N.C., and Boston with a total of 68,000 square feet of data center capacity. As a result, Windstream will have a combined total of 12 data centers across the country.
The boards of both companies have approved the transaction, which is expected to close in the fourth quarter of 2010, subject to certain conditions, including necessary regulatory approvals.
According to reports, Hosted Solutions CEO Rich Lee will not remain with Windstream after the deal closes.
Kip Turco, COO at Hosted Solutions, will head Windstream’s data center business. Hosted data center operations team will remain in Raleigh.
Data centers have been a hot commodity in the Southeast. Peak 10, a North Carolina-based rival of Hosted Solutions, sold a majority stake to
Welsh, Carson, Anderson & Stowe earlier this year and closed on a $155 million credit facility as well.
Tags: Acquisitions, Arkansas, Charlotte, data centers, hosted solutions, Kip Turco, LIttle Rock, NC, Raleigh, Rich Lee
Posted in Acquisitions, Carolinas, Internet/New Media, IT, North Carolina | Comments Off
Tuesday, November 2nd, 2010
 WEST PALM BEACH, FL – Social web solutions agency Biztegra Partners has acquired tech strategy and software development firm Outcome Labs. Terms of the deal were not disclosed.
As part of the acquisition, all Outcome Labs employees will join Biztegra and the company’s founder, John Fleming, will lead Biztegra’s Strategic Technology practice. Outcome Labs collaborative development technology and network of Latin American development teams provide Biztegra with proven, large-scale web, social and mobile development capabilities.
The combined company will be headquartered in West Palm Beach, Florida with regional offices in major east coast cities.
Murray Izenwasser, one of the founding partners of Biztegra said, “The new combined Biztegra team can help customers get educated about the social web, envision what they need to meet their business objectives, develop and evolve cost-effective social web solutions, and engage and grow their communities of customers, prospects, partners and employees.”
Tags: Acquisitions, Biztegra, FL, Outcome Labs, social media, software development, West Palm Beach
Posted in Acquisitions, Florida, Internet/New Media, IT | Comments Off
Wednesday, October 27th, 2010
 HICKORY, NC -DC-based private equity firm The Carlyle Group has agreed to acquire Hickory, NC-based ComScope, (NYSE: CTV) which makes infrastructure products for wireless carriers, in a deal worth $3.9 billion that will take the company private.
The Carlyle Group will pay $31.50 a share for CommScope, a 36 percent premium over its closing price Friday.
Cam Dyer, a Carlyle principal, said, “With strong leadership and clear secular growth drivers, CommScope’s long-term prospects are excellent. Carlyle will support CommScope’s continued investment in next generation solutions, more integrated product and service offerings, and superior customer service levels.”
CommScope’s current executive team is expected to continue leading the company, Carlyle said.
The transaction is expected to close in the first quarter of 2011. It requires CommScope stockholder approval, although the company board unanimously approved the deal.
Tags: Acquisitions, CommScope, telecom, The Carlyle Group, wireless carriers
Posted in Acquisitions, Carolinas, North Carolina, Telecommunications | Comments Off
Friday, October 22nd, 2010
 ATLANTA - Transcend Services Inc. (Nasdaq:TRCR), which sells clinical documentation services to the healthcare market, has acquired Toledo, Ohio-based Spryance Inc. and its subsidiary, Heartland Information Services for about $6.5 million in cash. The deal included paying off about $1 million of Heartland debt.
Heartland currently generates over $18 million of annual revenue, bringing Transcend’s annual revenue run rate over the $100 million threshold.
Founded in 1997, Heartland Information Services was acquired in 2006 by Spryance, Inc. The combined company has used the Heartland name since the acquisition. Heartland serves approximately 55 hospitals plus several clinics and surgery centers nationwide and has a strong relationship with Hospital Corporation of America (HCA). With centers in Bangalore, Chennai and Delhi, the company has over 1,500 medical transcription and quality assurance specialists in India and has historically provided most of its services using offshore resources.
Transcend says its transcription services – along with leading data extraction and reporting tools – provide critical data needed to document patient encounters and help drive clinical decision making.
Tags: Acquisitions, healthcare IT, Heartland, Ohio, Toledo, Transcend Services
Posted in Acquisitions, Georgia, IT | Comments Off
Tuesday, October 19th, 2010
 DULUTH, GA – Duluth-based NCR Corp. has acquried Mobiqa, a Scotland-based company that sells optimized mobile content and provides tickets, boarding passes, and downloadable coupons and applications. Terms of the deal were not disclosed.
The acquisition enables NCR to establish a global mobile center of excellence, which will initially focus on the travel industry, where NCR and Mobiqa expect to realize synergies from their existing solutions.
Located in Edinburgh, Scotland, the mobile center of excellence will complement NCR’s existing R&D facility in Dundee and enable NCR to extend existing mobile offerings across multiple industry sectors.
Mobiqa is a leader in the delivery of optimized mobile boarding passes to the airline industry. The company is able to deliver content to smartphones and legacy handsets via over 600 mobile networks in over 150 countries worldwide.
Mobiqa uses SMS, MMS, web link and email technologies for barcode delivery to mobile phones and offers fully optimized mobile website content for m-commerce transactions and downloadable applications in the airline, cinema, live events, rail and retail sectors.
Tags: Acquisitions, Duluth, GA, Mobiqa, NCR
Posted in Acquisitions, Georgia, Internet/New Media, IT | Comments Off
Tuesday, October 12th, 2010
 FAIRFAX, VA – SRA International Inc. (NYSE: SRX), a leading provider of technology and strategic consulting services and solutions to government organizations and commercial clients has agreed to buy Platinum Solutions Inc., which sells systems integration and collaborative solutions to the federal government for approximately $90 milllion.
Platinum Solutions is a privately held systems integrator and software developer with headquarters in Reston, and offices in Bridgeport, W. VA and Rockville, MD. The company specializes in developing customized software applications and providing data management solutions for customers in the national security and civil government arena.
Platinum Solutions’ revenue in calendar year 2010 is expected to be approximately $55 million. The acquisition is expected to be accretive to earnings per share in SRA’s fiscal year 2011.
Tags: Acquisitions, Bridgeport, government contractors, IT, MD, Platinum Solutions, Reston, Rockville, SRA, VA, W.VA
Posted in Acquisitions, Government/Defense, IT, Maryland, Other SE, Potomac, Virginia, West Virginia | Comments Off
Monday, October 11th, 2010
 ATLANTA – Enfinity America Corporation, an international solar power project developer, has acquired U.S. solar developer ClearPeak. The move strengthens Enfinity’s coast-to-coast presence in the solar space .
ClearPeak was established in 2009 and provides outsourcing solutions to the clean energy industry. Areas of focus include business strategy, business development, project development, project finance, and policy support.
Financial details of the acquisition were not disclosed.
Enfinity will retain all ClearPeak executives and adopt ClearPeak’s pipeline of renewable energy customers and projects.
“This acquisition demonstrates Enfinity’s continued commitment to the North American market,” said Rafael Dobrzynski, CEO at Enfinity America Corporation. “Adding the professionals from ClearPeak will complement an already successful development, financial and project management team.ClearPeak’s principals Bob Hopper and Brian Lynch have a network of deep relationships within our industry. That network, combined with Enfinity’s access to capital, will accelerate the installation of a series of commercial- and utility-scale solar systems.”
Tags: Acquisitions, Atlanta, ClearPeak, Enfinity, GA, solar power developers
Posted in Acquisitions, Energy, Georgia | Comments Off
Wednesday, October 6th, 2010
 Mark S. Luckie WASHINGTON, DC – Yet another high end blogger has sold his creation to a media firm. WebMediaBrands.net (Nasdaq:WEBM), which publishes the popular Media Bistro site frequented by Internet journalists, marketers and others, is buying www.10000words.net from owner Mark S. Luckie.
Terms of the deal were not disclosed. Luckie, now employed by the Washington Post, will continue to write for the site “for a while.”
Alan M. Meckler, chairman and CEO of WebMediaBrands, said, “10,000 Words has become one of the more important blogs in the journalism and social media space.”
He said it “is a perfect fit for the Mediabistro blog network, which attracts over 3 million unique visitors monthly. Mark Luckie will continue to contribute to 10,000 Words and will help us develop other bloggers to write for 10,000 Words as we rapidly expand coverage.”
AOL, Yahoo and other major players on the Internet have been scooping up top blog sites all year. We wonder if this will inspire other bloggers to increase the commercial viability of their efforts? –Allan Maurer
Tags: 10000words.net, Acquisitions, DC, journalism, Mark S. Luckie, social media, WebMediaBrands
Posted in Acquisitions, Internet/New Media, Potomac, Washington, DC | Comments Off
Friday, October 1st, 2010
 ATLANTA & HUNTSVILLE, AL – EarthLink Inc. (Nasdaq: ELNK), one of the nation’s leading Internet service providers, and ITC^DeltaCom Inc. (OTC Bulletin Board: ITCD), a provider of integrated communications services to customers in the southeastern United States, have agreed to merge in a deal valued at $516 million.
The acquisition will enable EarthLink to create a leading IP infrastructure and solutions company by combining its existing ISP and IP-focused businesses with Deltacom’s integrated communications business.
Deltacom has 16,400 miles of fiber optic infrastructure in the Southeast.
Deltacom currently serves over 32,000 small and mid-size businesses, multi-location enterprises, government agencies and wholesale customers in the southeast with services including Multi-Protocol Label Switching (MPLS) and IP-based products. Together, the companies will offer customers a comprehensive suite of Internet, telecommunications and managed services.
Tags: Acquisitions, AL, Atlanta, Deltacom, Earthlink, Huntsville, telecom
Posted in Acquisitions, Alabama, Georgia, Other SE, Telecommunications | Comments Off
Tuesday, September 28th, 2010
 WASHINGTON, DC – AOL may be on the verge of buying the popular TechCrunch blog founded by attorney Michael Arrington, according to the web site Gigaom, which cites unnamed sources.
Om Malik reports that “the deal is at a sensitive stage and may fall apart yet, but I don’t think so.”
If it happens, the deal is likely to occur on stage at the TechCrunch Disrupt event underway in San Francisco.
AOL has been rapidly expanding its content offerings, including local city reporting and blogs. TechCrunch is one of the best known and most popular blogs in the tech sphere.
AOL CEO Tim Armstrong, who may appear at the Disrupt event if these reports pan out, has said AOL plans to become a major employer of online journalists and bloggers.
So far, its efforts have not resulted in better financial numbers for the once dominant AOL, which does still employ many people in the Potomac region, although it moved its HQ to New York.
Former AOL executives, including founder Steve Case, have been active investors and entrepreneurs, seed funding and starting many companies.
Tags: Acquisitions, AOL, Disrupt, Michael Arrington, Steve Case, TechCrunch
Posted in Acquisitions, Internet/New Media | Comments Off
Tuesday, September 14th, 2010
 ATLANTA –Atlanta’s MedAssets Inc. (NASDAQ: MDAS) agreed to acquire The Broadlane Group for $850 million.
Based in Dallas, Texas, The Broadlane Group is a leading provider of supply chain management, strategic sourcing of supplies and services, capital equipment lifecycle management, medical device or PPI cost management, centralized procurement, clinical and lean process consulting, and clinical workforce optimization.
Patrick Ryan, chairman and CEO of The Broadlane Group, is expected to join the MedAssets board and assume the role of president of the company’s Spend Management segment upon completion of the transaction. “This transaction offers an exceptional opportunity to bring together two very strong enterprises and deliver end-to-end cost management capabilities.
Under the terms of the agreement, MedAssets will purchase The Broadlane Group for approximately $850 million in cash, with $725 million to be paid at closing and $125 million to be paid in January 2012. To fund the transaction, MedAssets has obtained financing commitments from J.P. Morgan and Barclays Capital.
MedAssets partners with healthcare providers to improve their financial strength by implementing integrated spend management and revenue cycle solutions that help control cost, improve margins and cash flow, increase regulatory compliance, and optimize operational efficiency. MedAssets serves more than 125 health systems, 3,300 hospitals and 40,000 non-acute healthcare providers.
Tags: Acquisitions, Atanta, Dallas, Georgia, Healthcare, MedAssets, supply chain management, Texas, The Broadlane Group
Posted in Acquisitions, Georgia, IT | Comments Off
Monday, September 13th, 2010
 FAIRPORT, N.Y. & RICHMOND, VA–PAETEC Holding Corp. (NASDAQ GS: PAET)has signed a definitive merger agreement to acquire Cavalier Telephone Corporation in an all-cash $460 million transaction.
Virginia-based Cavalier is a privately held company whose majority owner is M/C Venture Partners, a private equity firm based in Boston. The acquisition will add nearly 17,000 fiber-route miles to PAETEC’s existing service footprint, allowing the company to offer an alternative for last-mile connectivity to customers and reduce overall expenses through improved cost-structures and network grooming.
Cavalier’s wholly owned subsidiary, Intellifiber Networks, is one of the largest network providers in the nation with a high capacity fiber network spanning nearly 17,000 route miles and representing over $2 billion of investment. The expansive 12,262 route mile intercity network spans the Midwest and Eastern U.S.
“This is a major milestone in the Cavalier story. Our future has never looked brighter,” said Danny Bottoms, president & CEO of Cavalier. “This transaction will soon enable us to take advantage of a combined network and resources that are unmatched in the industry, and build upon a common culture that is singularly focused on the customer.”
Tags: Acquisitions, Cavalier Telephone, Fairport, New York, PAETEC, Richmond, telecom, Virginia
Posted in Acquisitions, Money, Potomac, Telecommunications, Virginia | Comments Off
Monday, September 13th, 2010
 BURLINGTON, NC – has entered into a definitive agreement under which LabCorp will acquire Genzyme Genetics, a business unit of Genzyme Corp. (NASDAQ: GENZ), in an all cash transaction valued at $925 million.
Net of expected income tax benefits, less acquisition-related expenses, the acquisition has a net cash cost to LabCorp of approximately $795 million.
“Genzyme Genetics is among the premier genetics and oncology laboratories in the United States. It has an excellent clinical reputation, a track record of growth and innovation and outstanding people,” said David P. King, chairman and CEO of LabCorp.
“This acquisition will substantially expand our capabilities in reproductive, genetic, hematology-oncology and clinical trials central laboratory testing. The acquisition of Genzyme Genetics provides us with an unprecedented opportunity for revenue growth in our key strategic focus areas of esoteric testing and personalized medicine.”
Genzyme Genetics is a provider of complex reproductive and oncology testing services and the preferred provider for such services to maternal fetal medicine specialists and obstetrician / gynecologists nationally. The business performs more than 1.5 million high-quality, high-clinical value tests annually with reported revenue in 2009 of approximately $371 million.
LabCorp has obtained a financing commitment from Citi to provide debt financing for the transaction.
Tags: Acquisitions, Burlington, Genzyme Genetics, LabCorp, NC
Posted in Uncategorized | Comments Off
Thursday, September 2nd, 2010
 CHARLOTTE, NC – Welsh Carson, Anderson & Stowe, a private equity firm, and Peak 10′s executive management have acquired a majority stake in the company. Financial details were not disclosed.
Selling shareholders include majority owner Seaport Capital, a New York-based private equity firm and McCarthy Capital, an Omaha, Neb.-based private equity fund.
Peak 10’s existing management team, led by Co-Founder, President and CEO David Jones will continue to operate the business.
Jones said, “Our partnership with Welsh Carson enables Peak 10 to continue increasing the scale of our business to meet the high demand for data center infrastructure and related managed services. Our strategic focus remains intact but our resources now position us to more rapidly extend our geographic footprint, strengthen our team and further accelerate our managed services and cloud offerings.”
Peak 10 has managed a path of steady and consistent growth achieved through expansion in the greenfield markets of Jacksonville, FL.; Charlotte, NC.; Tampa, FL. and Raleigh, NC, and through acquisitions of established data center companies in Louisville, KY; Nashville, TN.; Richmond, VA and, most recently, Fort Lauderdale, FL.
In 2007 and early 2008, Peak 10 opened greenfield data centers in Atlanta, Ga. and Cincinnati, Ohio respectively. Over the last two years Peak 10 has completed construction of additional facilities in five of its markets to meet customer growth and demand.
The transaction is expected to close in early October.
Tags: Acquisitions, Atlanta, Charlotte, FL, Fort Lauderdale, GA, KY, Louisville, Nahsville, NC, Peak 10, Raleigh, Richmond, TN, VA, Welsh Carson
Posted in Acquisitions, Carolinas, Florida, Georgia, Kentucky, North Carolina, Other SE, Potomac, Tennessee, Virginia | Comments Off
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