NTT Completes $350 Million RagingWire Investment
February 3rd, 2014 By: Jason Verge
NTT Communications has completed its $350 million investment in RagingWire Data Centers, acquiring an 80 percent ownership stake, the companies said today. RagingWire founders and management will continue to operate the company as a platform under the RagingWire brand and maintain a minority interest in the company.
In one of the largest data center deals of 2013, NTT dramatically expanded its presence in the U.S. market with this investment, more than doubling its footprint in the U.S with an additional 650,000 square feet of space, not counting numerous RagingWire expansions underway. The deal enables both companies to respond to high demand for data center colocation services worldwide.
“We are thrilled to welcome RagingWire into the family of NTT Communications group companies,” said Akira Arima, CEO of NTT Com. “Our combined customer base which includes the top enterprises, government organizations, and Internet companies around the world will benefit from our expanded and enhanced data center and cloud solutions. RagingWire’s patented data center power delivery design and technology along with their world-class customer service model will be important additions to our global solutions portfolio.”
NTT has data centers in northern Virginia and Silicon Valley, and globally has data centers in more than 150 locations, with over 2.5 million square feet of server room floor. RagingWire has campuses in Sacramento, California, and Ashburn, Virginia, both of which are undergoing expansions. RagingWire began construction of a new 150,000 data center in Sacremento and will soon break ground on a 78 acre parcel of land in data center alley, Ashburn, Virginia, with designs to build 1,500,000 square feet of space. RagingWire recently detailed the next phase of growth, post-acquisition.
“RagingWire’s management team and employees are honored to be recognized by NTT with this investment in our business,” said George Macricostas, founder and CEO of RagingWire. “As part of the NTT family of companies, we plan to accelerate our build plan in North America, extend our data center platform globally, and add even more strategic value to our customers.”