CHARLOTTE, N.C. and LOUISVILLE, Ky. -- Nov 5, 2004 -- Peak 10, Inc., the Southeast's leading data center and managed services provider, today announced the acquisition of Xodiax, a Louisville, Ky.-based provider of managed services, collocation, hosting and connectivity. The acquisition creates a company with the highest levels of customer service and technical expertise, geographic diversity and financial strength. Peak 10 moves forward with unparalleled market depth and breadth and a comprehensive portfolio of products and managed services. The terms of the acquisition were not disclosed.
"Peak 10's acquisition of Xodiax expands our footprint to five cities and adds a very attractive and strategically valuable franchise to our business," said Kevin Brandon, partner with Seaport Capital. "Xodiax is a very well managed, financially successful service leader with a diverse and growing customer base. Completing this acquisition on the heels of reaching EBITDA positive earlier this year demonstrates Peak 10's continued execution on our strategy of achieving scale and being the leading independent data center operator in the Southeastern U.S."
The acquisition increases Peak 10's geographic footprint and market presence in the Southeast. The company will now own and operate five enterprise-class data centers in five key markets, which deliver the highest standard of services, infrastructure, security and performance to small, medium and large businesses in its local markets, regionally and nationwide. The combined organization will feature one of the industry's premier and diversified customer portfolios, covering organizations of all sizes and industries. These customers include leading organizations such as Siemens, Raleigh-Durham Airport Authority, Lending Tree, MaximumASP, Kentucky Farm Bureau, Commonwealth Aluminum and Ameristeel.
"The Xodiax team is a seamless fit with Peak 10 and will match our culture and history of solid, consistent growth," said David Jones, president and chief executive officer of Peak 10. "The acquisition provides us the unique position of merging the knowledge and expertise of two entrepreneurial organizations to exceed customer expectations and to focus on new growth opportunities."
"The combination of these two growing and profitable companies creates significant value for customers, employees and investors," said Jim Clishem, founder and chairman of Xodiax. "The acquisition gives Xodiax the breadth and depth it needs to remain committed to the Louisville market by expanding our geographic footprint, product portfolio and support infrastructure with minimal disruptions to our business."
Xodiax was founded in 1999 as an outsourcing firm for information technology services and was recently ranked 85 in Inc magazine's list of the ‘500 Fast Growing Companies.' Under the terms of the agreement Xodiax will operate as Xodiax, a Peak 10 company. The company's data center, management team and employee population will remain in and committed to the Louisville market.
"The employees and management team of Xodiax mesh extremely well with Peak 10," said Don Esterle, president and chief executive officer of Xodiax. "Our operating philosophies and values are comparable and we both place a high priority on customer service as well as operating efficiently and responsibly."
About Peak 10, Inc.
Peak 10 is the Southeast's leading data center services provider offering a full range of hosting, storage, security and business continuity solutions. Customers such as Pergo, RDU Airport, Global Knowledge, LendingTree, Maximum ASP, Siemens and The Jacksonville Jaguars rely on Peak 10 to keep business critical applications up and running around-the-clock. The company owns and operates five enterprise-class data centers that deliver a higher standard of infrastructure, security and performance to businesses nationwide. Peak 10 has data centers in Charlotte and Raleigh, N.C., Jacksonville and Tampa, Fla., and Louisville, Ky. Additional information about Peak 10 is available at www.peak10.com.
Peak 10's primary financial partner is Seaport Capital with a minority investment position held by Frontier Capital. Both firms have private equity and investment banking expertise with extensive experience in the information technology and communications industries.
