Continuing its push into managed services, Layered Technologies today announced the acquisition of GSI Hosting (GSI), a leading provider of compliance-focused managed hosting service. GSI specializes in hosting companies with complex infrastructure and compliance requirements, particularly in the financial services industry. The terms of the transaction were not disclosed.
For many years Layered Tech focused on dedicated hosting. In April 2008 the company acquired FastServers in a deal that accelerated Layered Tech’s entry into managed services.
Founded in 1996 by president and CEO Robin Greenhagen, GSI’s customer base includes leading consumer and financial services brands. Greenhagen will join Layered Tech as chief technology officer.
“We are excited by the opportunity to partner with Robin and his team," said Layered Tech Chairman and CEO Jack Finlayson. "The acquisition of GSI brings a wealth of talented employees, unique proprietary technology, market-leading compliance capabilities and deep customer relationships that will strengthen the combined business. This strategic combination further expands the value that we can deliver to our combined customer base as we integrate our respective technology and service capabilities.”
Deal Includes Kansas City Data Center
As part of the transaction, Layered Tech acquires GSI’s wholly owned 77,000-square-foot data center in Kansas City, Mo., and its facilities throughout North America, Canada and Europe.
"Layered Tech and GSI take the same collaborative approach to delivering market leading services to our customers," said Greenhagen. "Together we have the experience, talent and vision to continue growing and innovating, and we have powerful financial partners who are committed to investing in Layered Tech’s growth."
In February 2010, Layered Tech announced it received significant growth equity funding from a group of investors led by Accel-KKR, a technology-focused private equity investment firm.
"We believe that the combination of Layered Tech’s managed hosting leadership and GSI’s compliance leadership will create a unique strategic solutions provider in the market. Ben Bisconti, Managing Director of Accel-KKR We look forward to continuing to support the combined company’s growth.”