INAP Completes Acquisition of SingleHop. They further added that with this acquisition, INAP will be able to launch an integrated delivery system that can be cross-sold by capitalizing their global footprint.
Bottom line: this acquisition will only make INAP stronger and more robust, improving our data center services, infrastructure solutions, corporate growth and financial outlook. INAP’s decision to buy versus build these advanced capabilities affords us both SingleHop’s expertise and a great growth catalyst for 2018.
Both colocation revenue ($51.3 million in Q3) and cloud revenue ($17.6 million in Q3) decreased in the period, down 6.6 percent and 7.3 percent, respectively.Guiding VARs, MSPs, CSPs, Total Service Providers (TSPs) s & Strategic IT Service Providers: From Entrepreneur to Exit All such statements speak only as of the date made, and INAP undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise. The deal essentially combines two major IT service providers that offer colocation, managed, cloud and network services.
It has always been INAP’s goal to expand and improve its portfolio of services. Feb. 28, 2018, 05:00 PM. ATLANTA, Feb. 28, 2018 (GLOBE NEWSWIRE) — Internap Corporation (NASDAQ:INAP), a provider of high-performance data center services including colocation, managed hosting, cloud and network services, today announced the completion of its acquisition of SingleHop LLC, a leading provider of hosted private clouds and managed hosting for $132 million in … INAP previously announced the acquisition on January 29, 2018.The transaction was funded with an incremental term loan and cash from the balance sheet.
For more information, visit This press release contains forward-looking statements. ATLANTA, GA – Internap Corporation (NASDAQ:INAP), a provider of high-performance internet infrastructure including colocation, managed services and hosting, cloud and high-performance network services, today announced that it has entered into a definitive agreement to acquire SingleHop, LLC, a private company headquartered in Chicago, Illinois for $132 million in cash.
INAP Completes Acquisition of SingleHop. BRIEF-Inap To Acquire Singlehop For $132 Million.
We are excited to welcome SingleHop’s talented employees to our team as part of our vision to expand and build INAP’s value proposition and power to generate sustainable growth.”Internap Corporation (NASDAQ:INAP) is a leading provider of high-performance data center services including colocation, managed hosting, cloud and network services.
INAP partners with its clients, who range from the Fortune 500 to emerging start-ups, to create secure, scalable and reliable IT infrastructure solutions that meet the client’s unique business requirements. How Your Business Will Benefit from INAP’s Acquisition of SingleHop.
INAP had returned +5.79% year-to-date leading up to today’s news, versus a 0.00% return from the benchmark S&P 500 during the same period. The Company has no immediate plans to raise additional capital.The planning and implementation for the integration of SingleHop into INAP is in progress. SingleHop is a leading provider of highly-automated, scalable managed hosting and on-demand Infrastructure-as-a …
More Info About Internap Corporation (INAP) Internap Corporation operates through two business segments: Data Center Services segment and Internet Protocol Services segment. Because such forward-looking statements are not guarantees of future performance or results and involve risks and uncertainties, there are important factors that could cause INAP’s actual results to differ materially from those expressed or implied in the forward-looking statements, due to a variety of important factors.
All forward-looking statements attributable to INAP or persons acting on its behalf are expressly qualified in their entirety by the foregoing forward-looking statements. All contents © 2020 ChannelE2E and After Nines Inc. Such important factors include, without limitation INAP's ability to realize anticipated revenue, growth, synergies and cost savings from the acquisition; INAP's ability to successfully integrate SingleHop’s sales, operations, technology, and products generally; or the impact on INAP’s business and financial condition from the additional indebtedness and other financial obligations. INAP has over 1 million gross square feet under lease, with over 500,000 square feet of data center space. ATLANTA, GA – Internap Corporation (NASDAQ:INAP), a provider of high-performance internet infrastructure including colocation, managed services and hosting, cloud and high-performance network services, today announced that it has entered into a definitive agreement to acquire SingleHop, LLC, a private company headquartered in Chicago, Illinois for $132 million in cash. SK acquires stake in Chinese automotive chipmaker ... (“INAP”).
SingleHop focuses on managed hosting and infrastructure as a service (IaaS), which should align well with Internap’s existing colocation and cloud services. As part of the financing, INAP obtained an amendment to its credit agreement to allow for the incremental term loan and to provide further operational flexibility under the covenants. Registration on or use of this site constitutes acceptance of our
Internap (INAP) has acquired SingleHop for $132 million in cash — a valuation of roughly 7 times annual EBITDA (earnings before interest, taxes, depreciation and amortization) after synergies kick in.
Also, it sounds like the SingleHop team will merge into INAP USA’s managed hosting and services team, which is led by VP Jennifer Curry.“Jen acquires an all-star team to attack opportunities that historically may have been challenging for either company to score on its own due to lack of product or size,” asserts Corey Needles, senior VP and general manager, INAP USA.
The valuation is typical for a managed services provider (MSP) but low for a cloud services provider (CSP), which often benefit from SaaS-related intellectual property (IP).
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