More Expansion Ahead for ViaWest
June 27th, 2006 By: Rich Miller
Denver-based colo provider ViaWest is planning additional expansion beyond last week’s acquisition of Fortix, which gave it entry into the Portland, Oregon market. ViaWest has secured $31 million in debt financing from a “leading New York financial institution,” applying $13 million to the Fortix deal and debt retirement.
That leaves $18 million, which the company says is “earmarked 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.” ViaWest has data centers in Denver and Salt Lake City in addition to its newly-acquired facility in Portland.
“ViaWest has successfully completed 16 acquisitions since 1999,” said Roy Dimoff, chairman and CEO, ViaWest. “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.”
“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,” said Mike Kzra, senior vice president of finance for ViaWest.