RagingWire Gets $75 Million for Expansion
February 4th, 2011 By: Rich Miller
Colocation provider RagingWire Enterprise Solutions has secured $75 million in credit facilities, which will help the company complete construction on a new data center on its campus in Sacramento, Calif. The company also gave the first indication that it will expand beyond the Sacramento market, saying the credit line may help fund expansion at “other sites under consideration.”
RagingWire currently operates a 220,000 square foot data center, and is in the process of building a new 250,000 square foot data nearby. The company says it has several anchor clients under contract for the new carrier-neutral facility, which will employ a highly-redundant 2N+2 design and support power densities of more than 250 watts per square foot. RagingWire expects to complete commissioning and begin installing clients in April.
“This significant financing comes at an extremely attractive interest rate, which further demonstrates the industry’s confidence in our profitable operating model, predictable cash flow and strong balance sheet,” said Yatish Mishra, President and CEO of RagingWire. ”This financing supports our dynamic expansion strategy, avoids dilution, and results in a greater return on shareholder equity.”
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