Great Hill Partners Announces Formation of Managed Data Holdings, LLC
Boston, MA -- October 19, 2007 -- Great Hill Partners announced today that Managed Data Holdings, LLC of Fairfax, VA has consummated the acquisition of InteleNet Communications, Inc., an Irvine, CA based data center operator. InteleNet provides a full range of co-location, IP connectivity, managed services and managed hosting solutions to enterprise customers in the Orange County and surrounding markets. Great Hill Partners teamed with a talented executive team led by Pete Stevenson, the former CEO of Globix Corporation to form Managed Data Holding earlier this year, and the acquisition of InteleNet represents the Company’s first step in building a meaningful presence in the data center market.
“Having Great Hill Partners as the lead investor in our company positions us well to execute on our defined strategy of becoming a leading provider of outsourced IT services to the business market,” said Pete Stevenson, co-founder and CEO. Stevenson added, “The Great Hill team adds a lot of value and practical experience in working with us to make sound decisions related to capital markets and business strategies”.
John Hayes, Managing Partner at Great Hill commented, “Partnering with Pete Stevenson and his team represents an exciting opportunity to capitalize on the favorable trends in the IT infrastructure industry and to build a leading business in the data center services marketplace”.
About Managed Data Holdings, LLC
Managed Data Holdings, LLC (MDH) was founded in June, 2007 by three highly experienced industry executives in conjunction with Great Hill Partners and Catalyst Investors. MDH’s strategy is aimed at operating state-of-the-art data centers across Tier I and Tier II markets to meet the increasing demand for managed hosting, managed services, co-location space and disaster recovery services required by small and medium size business customers or divisions of large enterprises. Managed Data Holdings is the holding company for InteleNet Communications, which offers its co-location and managed hosting services to business customers. Its premium facility in Irvine, CA offers excellent customer service, reliability, uptime and IP connectivity to support its customers’ outsourced Internet and IT infrastructure needs. For more information, please visit www.intelenet.net.
About Great Hill Partners
Great Hill Partners, LLC is a private equity firm that manages over $1.5 billion in capital and focuses on investing in growth companies operating in the business and consumer services, media, internet services, transaction processing and software industries. Great Hill Equity Partners III, L.P. targets investments of $50 million to $100 million. For more information, please visit www.greathillpartners.com.