Denver, Colorado – (The Hosting News) – June 26, 2006 – Colocation and managed hosting solutions firm, ViaWest, has secured $31 million in debt financing from a leading New York financial institution.
Mike Kzra, Senior Vice President of Finance at ViaWest commented, ”ViaWest consistently shows record financial growth and is on target to continue strong top line and earnings growth, and close a solid second quarter. Securing this level of financing is a show of market confidence not only in our management team but in our ability to execute against our strategic growth plan.”
Of the $31 million secured, ViaWest will use $13 million to repay existing debt and fund the immediate acquisition of Fortix, a Portland, Oregon-based managed service provider. The acquisition of Fortix allows ViaWest to enter a third major market with a Tier 1 data center and significantly increase its leadership position. The remaining $18 million is slated to be used for additional expansion and acquisition opportunities that strategically align with ViaWest’s business in its three existing geographic markets or helping the company expand into yet a fourth market.
Roy Dimoff, Chairman and CEO of ViaWest added, ”ViaWest has successfully completed 16 acquisitions since 1999,” said “We are confident in our expansion plans including identifying additional, strategic acquisition targets similar to Fortix that will allow us to enter additional major markets and expand our footprint across the U.S.”
ViaWest provides colocation, managed hosting solutions and comprehensive services to mid-sized businesses. Headquartered in Denver, Colorado, with additional Tier 1 data centers in Utah and Oregon, ViaWest offers expertise to furnish customers with leading technology infrastructure solutions and the critical resources to support unique business needs. ViaWest currently serves thousands of customers nationwide including Frontier Airlines, the Denver Broncos, Exclusive Resorts and Chipotle.
To learn more, please visit: www.viawest.net.