(The Hosting News) – Hosting provider Host.net will now fall under the ownership of private equity firm NOVACAP, the two sides announced on Friday.
Host.net has played an integral role in the hosting community, providing services such as cloud, colocation, disaster recovery, Ethernet, among other offerings.
Financial terms of the deal were not disclosed in a press release concerning the matter.
Company CEO and Host.net Co-Founder Jeffrey Davis expressed satisfaction with the deal, noting “how much Host.net has grown and accomplished in its history.”
“NOVACAP’s investment and partnership enables us to grow to the next stage by adding not only more Data Centers, but continuing to expand our portfolio of services, offering the latest state-of-the-art technologies to our clients and growing the Host.net team to ensure that our world-class “white-glove” customer service approach remains the industry’s benchmark,” Davis went on to say.
Senior Advisor Ted Mocarski of the private equity firmed noted what he said was Host.net’s “impressive track record of growth and success.” He also emphasized company offerings such as cloud, data storage and virtualization.
And while ownership has changed, familiar faces at the tech provider with remain the same with the company’s current Management Teams now under the direction of NOVACAP. The private equity firm is based in Canada and currently deals with $790 million in assets.
The acquisition follows a previous announcement by Host.net just last month in which the company announced an expansion at its Boca Raton, Florida data center accounting for 19 thousand square feet.