BYTEGRID® Announces West Coast Expansion With Acquisition of NetRiver
Seattle Colocation Acquisition Adds 45,000 Sq. Ft. High Density Data Center and over 170 Customers to BYTEGRID's Expanding Portfolio
SEATTLE, WA – July 14, 2014 — BYTEGRID Holdings LLC, a leading data center company focused on the nationwide acquisition, development and operation of premier multi-tenant data center facilities, today announced the acquisition of NetRiver, a leading colocation provider based in Lynnwood, Washington, a northern suburb of Seattle.
The acquisition extends the BYTEGRID portfolio to the West Coast, giving the company a coast-to-coast national footprint. Additionally, the acquisition provides BYTEGRID with a managed services platform that can be introduced across the company's existing portfolio to complement its high-quality colocation offerings.
NetRiver is a full-service colocation company serving over 170 business and cloud service provider customers with premier colocation, cloud servers, managed storage and connectivity solutions. BYTEGRID plans call for a multi-million dollar expansion that will enhance the service offerings to NetRiver's existing customer base and create room for growth within the current footprint of the 45,000 square foot facility, which features 5.4 megawatts of critical power, multiple carriers and a high-availability metro area network. Long-term plans call for additional expansion on other portions of the property to support anticipated growth.
Under the terms of the transaction, BYTEGRID has acquired all of the assets of NetRiver including the customer contracts, land, and the multi-tenant data center facility. In addition, BYTEGRID has acquired the leasehold rights to a smaller second data center in Spokane, Washington, that serves primarily as a base for disaster recovery for the Seattle customers. Specific terms of the transaction were not disclosed.
NetRiver has a dominant market presence in the north end of Seattle due to a number of success factors: high-touch customer focus, availability of cloud hosting, various power redundancy offerings, metered power billing advances, high availability transport and bandwidth solutions.
In addition to continuing with the operations of NetRiver, BYTEGRID will immediately begin offering additional data center space to serve enterprise, government and service providers seeking premier colocation data center space and services in the greater Seattle Metro area. In addition, NetRiver customers will obtain immediate access to BYTEGRID's growing national footprint of high availability data center locations to support their growth needs.
"This acquisition and expansion is the latest step in the execution of our growth plan as we have evolved into a leading provider of colocation solutions to mid-market, large enterprise and government entities," said Ken Parent, BYTEGRID's CEO. "NetRiver is a leading market innovator in the Seattle area, providing premier customer service, network-neutral data centers and interconnection services to a technologically-savvy, diverse customer base. They add substantial technology expertise that will enable us to overlay mid-market colocation and managed services across our portfolio."
Don Goodwin, BYTEGRID's Executive Vice President of Sales and Marketing added, "We are extremely excited about the global reach we achieve through this acquisition. Seattle gives us an Asia-Pacific gateway to serve our Asia-PAC customers, which complements our existing Washington, DC facility serving the European markets."
Media Venture Partners, LLC, an investment banking firm serving companies in the internet infrastructure, telecommunications, media and renewable energy sectors, served as the exclusive financial adviser to NetRiver in the transaction.
BYTEGRID's data centers are highly secure, compliant business platforms serving some of the world's largest companies and government agencies, including numerous Fortune 50 companies.
Following the acquisition of the Cleveland Technology Center in mid-2013, the company announced earlier this year the acquisition of CNA Financial Corporation's 70,000 square foot, Tier III data center featuring 6 megawatts of power capacity in Aurora, Illinois, approximately 30 miles west of downtown Chicago.
Overall, BYTEGRID owns and operates five data centers in five geographically dispersed markets encompassing more than 700,000 square feet of premier multi-tenant colocation data center space, and powered shell facilities meeting the highest standards for security and reliability.
The Company is currently leasing space in most of these centers while pursuing the acquisition of additional facilities this year and beyond.