Regional data center provider TEAM Technologies has been acquired by Telephone and Data Systems, Inc., the parent company of TDS Telecommunications, the company said today. TDS paid $47 million to acquire TEAM, continuing an expansion of the company's data center infrastructure in the Midwest. TDS previously bought VISI Incorporated of Minnesota in March.
TEAM is based in Cedar Falls, Iowa and offers wholesale data center and colocation services from three facilities in Iowa and Wisconsin. The privately held company had annual revenues of $10 million for the 12 months ending Sept. 30, and was recently named one of the fastest-growing companies in the U.S. by Inc. Magazine. TDS Telecommunications is headquartered in Madison, Wisconsin, and offers telecom services in 30 states.
"It’s clear this acquisition provides a great opportunity for both companies," said Dave Wittwer, president and CEO for TDS Telecommunications Corp. "TEAM’s expertise in power and cooling delivery, physical security and incident response, combined with TDS’ networking expertise and transport capabilities, position us well for expanded growth in this dynamic marketplace."
TEAM's data centers are located in Madison, Wis., and Cedar Falls and Des Moines, Iowa. The current 20,000 square feet of space, and their expansion capabilities, add to TDS’ growing portfolio of data centers in the upper Midwest.
"As more companies strive to manage massive amounts of mission critical data, network applications, security services, and risk, partnering with experts in IT and communications infrastructure, such as TEAM and TDS, will be an essential element of success in today’s data-centric marketplace,” said Wittwer.
Here's a look at a virtual tour of one of TEAM Technologies' data centers: