Data center service provider Dataside has announced plans to build a new data center, which will be the company's seventh overall and fifth in the Dallas metro market. The announcement follows Dataside's announcement last week of $24.5 million in debt financing to fund additional growth.
The new data center, dubbed Dallas IV, will be housed within the Infomart carrier hotel at 1950 Stemmons, just north of Downtown Dallas. Dataside becomes the second provider this week to unveil plans to expand into additional space in the Infomart, following yesterday's announcement of an expansion by Switch and Data. The Infomart is a 1.2 million square foot mixed-use property that houses numerous telecom and data center providers, including The Planet and SoftLayer. The Infomart was purchased last year by DCI Technology Holdings. Dataside now has four data centers within the Infomart.
"We cannot be more pleased with our recent growth rate, and this latest data center deal merely illustrates our continued commitment to remain at the forefront in addressing the expanding needs in this marketplace," Dataside President & CEO Jim deVenny said, adding that "the current demand for dependable top-tier data center space is at an all time high."
Dataside's expansion plans come just days after the company announced $24.5 million in debt financing from Drawbridge Special Opportunities Fund LLC, which is managed by the private equity firm Fortress Investment Group. About $12.5 of the funds will be used to retire existing debt, with the remainder dedicated to future data center developments.
"This financial arrangement represents a giant milestone in our plans for the company's future," said Robert Bouquet, Chief Financial Officer of Dataside. "This is an excellent indication of the confidence Drawbridge has in our ability to execute. Their support gives us the increased capital we need to support our strategic development requirements."
Dataside was initially known as Collocation Solutions. In addition to its Dallas-area data centers, the company also has facilities in Austin and Las Vegas.