Greatresponder.com – 2011-06-17 – Private equity company Avista announced few days ago that is acquired DataBank company that is known as web hosting provider and data center operator. DataBank was a unit of private investment firm Freeman Group, so the deal deal was struck between Avista company and Freeman Group. The financial details of the deal were not disclosed and kept in secret.
DataBank web hosting company and data center operator provides managed data center services to over 80 business level customers, including several Fortune 500 enterprises such as FNF (Fidelity National Financial).
DataBank data center facility and primary company office are located in the big former Federal Reserve Bank building in downtown central business district of Dallas, Texas. Federal Reserve Bank building constructed in 1921 as unit of U.S. Federal Reserve Bank of Dallas. In 2000 the building was renovated as a technology and telecom hub, taking advantage of security features from its use as a banking facility. The building includes 256,000 rentable square feet of rentable space.
DataBank data center facility delivers reliable power availability, very high infrastructure redundancy and disaster protection, a secure environment and robust telecommunications connectivity with primary networks including Savvis, Level 3, Sprint and Time Warner.
As part of transaction agreement, Timothy Moore will join DataBank’s existing management team as CEO. mr. Moore has over 10 years of experience in the web hosting industry and network companies. He previously held senior sales and top management positions at ViaWest and Dataside companies.
“We are very pleased to be partnering with Avista, an established communications investor with expertise in scaling successful businesses,” said Patrick Guadalajara, who will continue with the company as the president of DataBank web hosting company. “DataBank has enjoyed very high growth over the past several years, and this transaction positions us to expand our leadership in the growing data center industry.”
We can only wish DataBank web hosting and data center operator success and stable growth with new owner.