365 Data Centers, a leading provider of network-centric colocation and other Infrastructure-as-a-Service (IaaS) solutions, has entered into an Asset Purchase Agreement to acquire Sungard’s U.S. colocation and network business.
365 is acquiring the international colocation brand’s data center facilities and customers in 8 strategic edge markets along with its U.S. network infrastructure, routes, and customers.
The transaction will complement 365’s existing data center presence in Boca Raton (FL), Bridgewater (NJ), Buffalo, Chicago, Commack (NY), Detroit, Fort Lauderdale, Herndon (VA), Nashville, Philadelphia, New York City, and Tampa, and its interconnected, resilient, low latency, nationwide fiber network.
365’s robust, carrier-neutral ecosystem and secure, reliable edge colocation, network, IP, DRaaS, BaaS, cloud compute and storage, and business continuity services help organizations reduce costs, drive innovation, and improve their customer experience. 365 Data Centers supports mission-critical application infrastructure by providing industry leading Service Level Agreement protections and adhering to industry standards such as HIPAA, PCI DSS, SOC 1 Type 2, SOC 2 Type 2, SSAE 18, and ISAE 3402.
Once this acquisition is closed and integrated, 365 will feature:
- 20 interconnected network-centric Data Centers
- 1,000,000 data center square feet which includes ample expansion space
- 53 MW of available power
- 105 Carriers across the platform with about 300 Carrier Points-of-Presence (PoPs)
- 90 additional network PoPs outside the 20 Data Centers
- Direct on-ramps from each Data Center to the public clouds
- Cloud storage, cloud compute, BaaS, DRaaS, and business continuity offerings
- 1,700 carrier, content, and enterprise customers
Bob DeSantis, CEO
“This acquisition demonstrates 365 Data Centers’ adherence to its network-centric colocation growth strategy,” said Bob DeSantis, 365 Data Centers CEO.
“We have already successfully doubled our business two times since inception in 2017 by acquiring, financing, integrating, and growing quality assets. We look forward to doing the same with the addition of the Sungard colocation and network portfolio, which will further enable us to provide quality services, grow our customer base, and deliver exceptional financial performance, all of which benefits our customers, employees, and investors.”
Sungard employees associated with the acquired business are expected to continue to serve existing customers and will be complemented by the 365 technical team. The same happened during the 2020 acquisition of Atlantic Metro when some of the founders and key leaders will joined the 365 executive team. DeSantis added, “We look forward to having Sungard professionals join 365 and wowing our entire customer base with the combined talents of over 200 dedicated employees.”
Funding for the transaction has already been secured from 365’s existing equity owners, including Stonecourt Capital which invests capital from some of the world’s largest family offices, institutions and sovereign wealth funds, and the Company’s bank syndicate, which represents the premier lenders to the data center industry.
The deal is expected to close during the next three months. This transaction further solidifies 365’s position as one of the largest privately held IaaS providers operating in the Eastern United States with direct network connectivity to owned facilities in key western markets to serve customers with those geographic requirements.