INAP Closes Sale of Houston Colocation Business to Netrality Data Centers
Internap Holding LLC, a leading-edge provider of high performance colocation, cloud and network services, announced that it has closed the sale of its data center facilities located at 1301 Fannin Street in Houston, Texas to an affiliate of the building’s current owner, a subsidiary of Netrality Properties, LP (“Netrality Data Centers”), a premier interconnected data center and meet me room provider.
Through a reseller agreement with Netrality Data Centers, INAP will continue to provide network services in the building, serving existing and potential future customers, and will become a customer of Netrality Data Centers going forward with respect to its network point of presence (“POP”). Netrality Data Centers will provide on-premise colocation services including: space, power and connectivity at the Houston data center.
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“We are pleased to announce the sale of our Houston colocation business to Netrality. Our colocation customers will be in great hands, as Netrality continues to invest in the building. The sale makes good sense for us right now, as we streamline our portfolio to position ourselves for organic growth,” said Mike Sicoli, President and Chief Executive Officer of INAP.
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“We are excited about the acquisition of INAP’s colocation and meet-me-room assets at 1301 Fannin. The synergies between our two ecosystems of service providers will create seamless connectivity options for our customers, enriching the interconnectivity of our Houston data center,” said Gerald Marshall, Chief Executive Officer at Netrality Data Centers. “INAP’s space can accommodate higher-density requirements which nicely complements our existing colocation space and allows us to cater to a wider range of customers.”
Bank Street Group LLC served as exclusive financial advisor and Jenner & Block LLP served as legal counsel to INAP on this transaction and Kurtz & Revness, P.C. served as legal counsel to Netrality Data Centers.