Just weeks after announcing a focus on seeking acquisition opportunities, managed hosting provider Terremark Worldwide (TMRK) has acquired DS3 DataVaulting for $11.5 million in cash, the company said today. DS3 provides customers with offsite, online data backup and restore services which enable enterprises and government agencies to rapidly and securely backup and restore files, databases and operating systems. The company is based in Fairfax, Va. and was founded in 2002.
"Acquiring DS3 enhances our overall data storage offering and helps us accelerate the development of our solutions in the area of managed storage, which is a key growth opportunity driven by the escalating data demands created by new technologies and increasingly stringent regulatory compliance," said Marvin Wheeler, Terremark’s Chief Strategy Officer.
"Combining DS3’s innovative backup and restore offerings with our existing suite of services and top-tier, highly connected facilities significantly adds to the value that our data storage solutions provide to enterprises and Federal government agencies," said Wheeler. "We also expect to realize cost synergies by relocating DS3’s infrastructure to our world-class data centers and eliminating the need to outsource some of our data storage services.”
DS3 provides local and remote business continuity services, coupled with innovative backup archive tiers and data discovery capabilities. Terremark said DS3's managed storage solution was "an ideal strategic fit" with Terremark’s existing set of managed services. DS3's customer list includes enterprise and government customers, including the National Oceanic and Atmospheric Administration.
“By adding our talented team of professionals and their strong industry relationships to a company that shares our commitment to quality customer service, we believe that we will maximize the impact our solutions can have,” said Stacy Hayes, President of DS3. “We’re excited to join the Terremark family and offer Terremark’s existing and prospective customers a superior option for their data backup and storage needs.”