Monday, June 14, 2010

Terremark Strikes Deal with Verizon Business

After the close, Terremark (TMRK) announces a dela with Verizon Business, unit of Verizon (VZ) to utlize 25,000 sq/ft in the Miami and Virgina data centers. At first glance this seems like a significant deal for TMRK, but no financial terms were released. The main reason given for the win is that TMRK has data centers that meet or exceed federal standards and Verizon Business has a thriving business with the governemnet.

Anybody following us knows that our big reason for buying TMRK originally was its connection to the governements movement on the internet.

  • As part of the agreement, Verizon will utilize 25,000 square feet of colocation space at Terremark’s world-class NAPs in Miami, Florida and Culpeper, Virginia that are designed to meet or exceed federal government standards for data communications and hosting facilities requiring stringent guidelines for power and cooling redundancy.
  • “When looking at the federal space, Terremark has clearly distinguished itself as a leader in providing world-class colocation services with some of the highest levels of physical and logical security,” said Joe Crawford, executive director of IT Services for Verizon. ”The fact that Terremark has established a leadership position in delivering innovative IT infrastructure solutions for the U.S. government makes Terremark a great match for meeting the needs of our federal clients.”
  • “Our agreement with Verizon signifies a defining moment for Terremark,” said Manuel D. Medina, Terremark’s Chairman and CEO. “Verizon’s use of our facilities demonstrates the quality of the high performance environment we offer our carrier partners such as Verizon.”

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