Stonecourt capital grows bigger with 365 Data Centers in its bouquet
By Nikita Chaurasia  Date: 2020-10-09

Stonecourt capital grows bigger with 365 Data Centers in its bouquet

365 Data Centers, leading provider of hybrid data center solutions, has reportedly announced its acquisition by StoneCourt Capital LP in order to boost the latter’s product & services portfolio. According to reliable sources, the former investors of 365 Data Centers, Longboat Advisors LLC and Lumerity Capital LLC, will be reinvesting in the new partnership.

It is to be noted that 365 Data Centers has become one of the largest data center solutions and serves around 650 customers in eastern United States. The company operates with a space of 230,000 square feet, along with 400 peering partners, 21 other presence points, as well as 100G fully redundant networks which are interconnected to 12 of its data centers.

Bob DeSantis, CEO of 365 Data Centers, was reported saying that the company is pleased to join hands with Stonecourt owing to its good reputation of supporting growth among businesses with strategic and financial resources. He further added that most of the team in 365 will remain intact, and this association will improve their acquisition and expansion strategies.

Speaking of the move, Lance Hirt, Managing Partner at Stonecourt was quoted saying that the firm is impressed by 365’s portfolio, and are excited to partner with them. He added that Longboat Advisors and Lumerity Capital will deploy additional capital to fuel 356 Data Center’s growth trajectory in the forthcoming years.

Matt Kim, Board member of 365 as well as the Managing Partner of Lumerity Capital, mentioned in a comment that this transaction signifies an important milestone for 365, as it will help the company scale and transform into leading provider of hybrid data infrastructure services.

If sources are to be believed, Bank Street Group LLC acted as exclusive financial advisor to Stonecourt Capital and 365 Data Centers. Meanwhile, Polsinelli PC served as a legal counsel to Stonecourt, while Shipman & Goodwin LLP served as legal advisors to 365 Data Centers.

Source- https://www.365datacenters.com/news/press-releases/stonecourt-capital-acquires-365-data-centers/

About Author

Nikita Chaurasia    

Nikita Chaurasia

An accomplished professional in the field of content development, playing with words comes naturally to Nikita Chaurasia. After completing her post-graduate MBA degree in Advertising and PR, Nikita worked across numerous content-driven verticals, undertaking diverse r...

Read More

More News By Nikita Chaurasia

LTI, IBM extend global partnership to spearhead digital transformation
LTI, IBM extend global partnership to spearhead digital transformation
By Nikita Chaurasia

The New York-headquartered IBM Corp., with its global partner Larsen Toubro Infotech, an Indian global IT solutions & services company, are planning to extend their multi-year partnership, in a bid to enable companies to revolutionize the busines...

Algae cultivator Qualitas Health raises USD 10 million in funding round
Algae cultivator Qualitas Health raises USD 10 million in funding round
By Nikita Chaurasia

In recent developments, privately held food and nutrition company Qualitas Health Inc. has reportedly secured USD 10 million in venture funds, as it looks to broaden the reach of its plant-based protein and omega-3 business. The company was appraised...

China touts plans of launching national ETS to attain carbon neutrality
China touts plans of launching national ETS to attain carbon neutrality
By Nikita Chaurasia

According to reliable sources, the Chinese government is expected to launch the much anticipated national emission trade scheme (ETS) by mid-2021 as a part of the country’s efforts of achieving carbon-neutrality by the year 2060, through market...

Fujifilm to develop large-scale cell culture manufacturing site in U.S.
Fujifilm to develop large-scale cell culture manufacturing site in U.S.
By Nikita Chaurasia

In a bid to proliferate its biopharmaceutical contract development and manufacturing business, Fujifilm Corporation is reportedly planning to invest around USD 2 billion (200 billion yen) towards the development of a large-scale cell culture manufact...

EMQ expands operations in South Korea to strengthen payment capabilities
EMQ expands operations in South Korea to strengthen payment capabilities
By Nikita Chaurasia

Hong Kong-based multinational financial settlement network EMQ Inc. has reportedly expanded its operations into South Korea to increase access to its global network ecosystem and offer more transparent as well as efficient cross-border payout capabil...