Alliances Key to Terremark Growth Strategy
October 27th, 2009 By: Rich Miller
In a sign that it is focusing on partnerships and acquisitions, Terremark Worldwide (TMRK) today announced the appointment of Marvin Wheeler as Chief Strategy Officer. Wheeler, who was previously Chief Operations Officer and President of the U.S. Commercial Business Unit, will be responsible for identifying key opportunities to drive continued growth for the company, including potential acquisitions.
“While Terremark has experienced exponential growth over the past several years, our continued focus on execution and tightly aligning our business plan with market demand and technological advancements will be vital as we continue our growth,” said Manuel Medina, Terremark’s Chairman and CEO. “Marvin’s vast experience and deep understanding of our dynamic industry, combined with his proven track record of success, will help us develop strategic alliances with key partners and capitalize on various opportunities to extend our successful growth trajectory.”
Terremark specializes in colocation, managed hosting and cloud computing offerings for the enterprise and government markets. Its strategy announcement comes just days after Equinix (EQIX) announced plans to acquire Switch and Data in a deal that will combine two rivals in the colocation and interconnection business.
But Terremark has put together some powerful partnerships as well. Virtualization market leader VMware (VMW) recently acquired a 5 percent equity stake in Terremark for $20 million ina deal that hjas clearly raised the Miami company’s profile as a provider of virtualized cloud services.
Wheeler has been with Terremark for nearly 10 years, joining the company after more than 20 years managing data center and network operations for some of the world’s leading telecommunications companies.
Nelson Fonseca has been named to succeed Wheeler as Terremark’s Chief Operating Officer. During his eight years at the company, Fonseca has held various key management positions including President of Terremark’s Public Sector Business Unit, Senior Vice President of Sales for Terremark Federal Group, a wholly-owned subsidiary of Terremark Worldwide, and Vice President of Commercial Sales. The management changes will become effective Nov. 15.