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Spire Acquires Majority in Carpathia web hosting news |
Want to add a web hosting news article ? Just do'it, it's free! Use submit form for hosting news!| Spire Acquires Majority in Carpathia Jul 8, 2008 | Managed hosting provider Carpathia Hosting (carpathiahost.com) announced on Tuesday that private equity firm Spire Capital Partners (spirecapital.com) has acquired a majority interest in Carpathia.
Under the agreement, the original investors participated in the deal with the former CEO, Rick Smith, staying on board. In conjunction with this investment, a new CEO and CFO with "considerable industry experience" will be joining the management team, says the company.
The change to the executive team, along with additional growth capital from Spire, will help to expand Carpathia's existing operations to develop and deliver "the highest quality managed hosting services in the industry," with a particular commitment to its commercial and federal client base.
The managed hosting space is an area hosting companies have been focusing more on lately as the demand for managed services, from the SMB to enterprise market, has grown. Layered Tech's CEO, Jack Finlayson, discussed the company's new commitment to enterprise customers and the managed space in his WHIRtv interview last week in Las Vegas.
Peter Weber - who founded and sold IT services company SevenSpace to Sun Microsystems in 2005 - will lead the new Carpathia management team as CEO. Smith, the former CEO, will remain at Carpathia as a member of the executive leadership team.
Bill Ranney, who also served on the management team of SevenSpace as chief financial officer, will join the Carpathia team as the new CFO. Ranney has also served in senior finance roles at Sun Microsystems and Verizon.
"We believe Carpathia is well-positioned to capitalize on the favorable outsourcing trends in the IT services/hosting marketplace through the company's success in delivering top-notch services to significant government agencies and corporate clients," says Sean White of Spire. "We are excited to partner with the management team and provide the financial resources required to deliver quality services to Carpathia's enterprise and government clients."
Based in Ashburn, Virginia, Carpathia says it provides hosting solutions including managed dedicated servers, security and backup services, remote monitoring and management services and colocation services.
Last month, Carpathia announced it has added over 20,000 square feet of raised floor, Tier III data center space at its Blue Ridge Data Center in Harrisonburg, Virginia. | Reads: 940 | Category: General | Source: TheWHIR : Web Host Industry Reviews
URL source: http://www.thewhir.com/marketwatch/070808_Spire_Acquires_Majority_in_Carpathia.cfm
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