[November 17, 2009] Terremark Buys DS3 DataVaulting Tweet Nov 17, 2009 (Close-Up Media via COMTEX) -- Terremark Worldwide, provider of managed IT infrastructure services, announced that it has acquired DS3 DataVaulting, a data management solutions company, for a purchase price of $11.5 million in cash. Fairfax, VA-based DS3 provides customers with offsite, online data backup and restore services which enable enterprises and government agencies to rapidly and securely backup and restore files, databases and operating systems. "Acquiring DS3 enhances our overall data storage offering and helps us accelerate the development of our solutions in the area of managed storage, which is a key growth opportunity driven by the escalating data demands created by new technologies and increasingly stringent regulatory compliance," said Marvin Wheeler, Terremark's Chief Strategy Officer. "Combining DS3's innovative backup and restore offerings with our existing suite of services and top-tier, highly connected facilities significantly adds to the value that our data storage solutions provide to enterprises and Federal government agencies. We also expect to realize cost synergies by relocating DS3's infrastructure to our world-class data centers and eliminating the need to outsource some of our data storage services." With a large list of enterprise and government customers, including the National Oceanic and Atmospheric Administration, the addition of DS3 also provides Terremark with a considerable opportunity to up sell its full suite of services to a new customer base. DS3's ability to provide solutions to this strong group of customers has helped it generate an annualized run rate of $6 million in revenues and $1.5 million in EBITDA, according to the company. "By adding our talented team of professionals and their strong industry relationships to a company that shares our commitment to quality customer service, we believe that we will maximize the impact our solutions can have," said Stacy Hayes, President of DS3. "We're excited to join the Terremark family and offer Terremark's existing and prospective customers a superior option for their data backup and storage needs." ((Comments on this story may be sent to [email protected])) [ Back To TMCnet.com's Homepage ]