DataBank remains in acquisition mode, this time buying Edge Hosting of Baltimore, Maryland. The deal expands DataBank's footprint of managed cloud services, and also bolsters the company's compliance-centric services. Financial terms were not disclosed.
As of early 2016 or so, it sounds like Edge Hosting had bootstrapped its way to an $18 million annual revenue run rate, according to the One Million by One Million blog. Edge designs, operates, and simplifies secure and compliant IaaS and PaaS managed cloud hosting, the company says. Much of the focus involves operational coverage of controls for FedRAMP, HIPAA, PCI, SSAE 16 SOC 2 Type 2 and EU Privacy Shield Framework.
Edge Hosting services include Compliance Architecture & Audit Support, Cloud Migration & Design, AWS Managed Services, and Secure Federal/Healthcare Hybrid Clouds, the companies say.
DataBank's Core Focus
New Edge Hosting parent DataBank, a Digital Bridge portfolio company, provides business solutions for data center, cloud, interconnectivity, and managed services. The company already operates data centers in Dallas, Minneapolis, Kansas City, Cleveland, Pittsburgh, Salt Lake City, and Atlanta. The addition of Edge Hosting will assist DataBank in supporting comprehensive operational controls for a number of commercial and government compliance standards, the companies say.
Edge Hosting CEO Vlad Friedman will transition become CTO of DataBank, where he will lead the combined company's product development and the technical roadmap. DataBank's plans are to leverage the Edge Hosting team’s technical and process expertise to enhance their current managed service offerings, nationwide. So it does not seem like either company is in store for massive layoffs during the transition.
DataBank has experience in the M&A market. The company earlier this year acquired of C7, a popular Salt Lake City-based data center.
Digital Bridge Holdings, a global communications infrastructure company, acquired DataBank in mid-2016. Financial partners in that deal included Teachers Insurance and Annuity Association of America (TIAA), Allstate Investments and The Edgewater Funds.
Additional reporting by Joe Panettieri.