Internap Acquires Montreal's iWeb for $145 Million

Posted by Techvibes NewsDesk

Internap Network Services Corporation today announced plans to acquire Montreal-based hosting and cloud provider iWeb in a deal valued at approximately $145 million.

Headquartered in Montreal, iWeb serves 10,000 SMB customers in more than 100 countries and has approximately 200 employees.

The combined entity creates a top five pure-play IT infrastructure services provider, with trailing twelve months revenue in excess of $320 million.

RELATED: Montreal's Cogeco Cable Acquires Vancouver's Peer 1 Network Enterprises

"iWeb fits perfectly into our strategy to deliver a comprehensive portfolio that can serve the needs of our customers at every stage of their business lifecycle, from an initial start-up wanting a single dedicated server to a scale-out Internet app provider or global enterprise requiring a hybrid solution across multiple data centers around the world," said Eric Cooney, president and chief executive officer of Internap.

"This combination represents a milestone in the transformation of Internap's business to a leading IT infrastructure services provider that can deliver on customers' complete range of IaaS demands."

Company:
iWeb
Website:
http://www.iweb.com
Location:
Montréal, Québec, Canada

iWeb has been providing reliable and scalable Internet hosting infrastructure solutions with its shared web hosting, dedicated servers, managed hosting and colocation services for over a decade. Founded by Martin Leclair and Eric Chouinard in October 1996 and headquartered in Montreal since 1998, the public company (TSX-V: IWB) has enjoyed a steady growth since its inception, currently employing more than 90... more


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Techvibes NewsDesk

Techvibes NewsDesk

Techvibes is Canada's leading technology media property.Founded in 2002, Techvibes covers technology and business news that impacts Canadians. We combine breaking local news with international coverage to deliver a unique balance of insight and information. The Techvibes Newsdesk covers a broad beat and publishes general news stories. If you have a story you would like covered, email... more



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