Cervalis Gets $75M To Build New Data Center
By Don Seiffert - Mass High Tech
Tuesday, August 14th, 2012
Shelton, Conn.-based data center hosting company Cervalis LLC announced that it has closed on $75 million from several commercial lending institutions to refinance existing debt as well as to build a new, 170,000-square-foot Connecticut business continuity facility and data center to serve New England and expand its ability to provide CT disaster recovery and business continuity services.
The newest facility, in Norwalk, Conn. will bring the total square-footage of data center space the company has to 470,000, according to Zack Margolis, vice president of sales, marketing and business development. The Norwalk center, when completed in late summer or early fall of 2013, will be the largest of the three existing data centers in New York, New Jersey and a 40,000 square-foot one in Fairfield, Conn.
“It will serve our New England clients from New York City, north to Boston and beyond,” Margolis told Mass High Tech. “Demand is very, very strong in New England.”
Margolis said the 85-employee, 12-year-old company will add about 25 to staff the new CT disaster recovery center. He said that in the end, the new center may cost more than $75 million.
The new facility will include 50,000 square feet of raised floor data center space to support high density configurations, plus 50,000 square feet on the second floor of business recovery space that can be customized by clients, which can serve as emergency business space if needed, said Margolis. The other 70,000 will house mostly electric and cooling facilities to support the data center.
“We are very excited about this important financing,” said CEO Michael Boccardi, in a statement. “The additional capital will enable us to meet strong customer demand for customized high availability, high power density data center, and business continuity solutions.”
In January, the company announced that its revenue grew by 30 percent in 2011 over 2010, and that it had received approval to build a second datacenter in an undisclosed municipality in Connecticut. The company also said it wants to establish a presence in a different region of the U.S. to transition from a greater NYC-centered firm into a nationally-oriented provider.
The company has been named one of the fastest-growing businesses in the IT services category by the Connecticut Technology Council.
To view the article: click link: http://www.masshightech.com/stories/2012/08/13/daily13-Cervalis-gets-75M-to-build-new-data-center.html
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