Terremark

Last updated
Terremark Worldwide, Inc.
Company type Subsidiary
Founded1980 (1980)
Founder Manny Medina [1]
Headquarters
Miami
,
USA
Servicesinformation technology services
Revenue$ 292 M (2010)
$ -31 M (2010)
Number of employees
859 total
260 in South Florida
Parent Equinix, Inc.
Website www.equinix.com

Terremark Worldwide, Inc., is of IBM, a provider of information technology services. [2] Headquartered in Miami, Florida, the company had data centers in the United States, Europe and Latin America; it offered services which include managed hosting, colocation, disaster recovery, data storage, and cloud computing.

Terremark employed over 750 people at its Miami-Dade County headquarters. [3]

History

In 1980 Manny Medina incorporated Terremark as a real estate company, constructing office buildings. During the dot-com era, an increasing number of his buildings were leased to computer data centers; over the years the company morphed into an information technology services company itself starting with the NAP of the Americas, [4] a large data center [5] and Internet exchange point [6] that hosts one of the instances of the K-root of the Domain Name System. [7]

On January 27, 2011, Verizon Communications announced it would buy Terremark Worldwide for $19 a share, in a deal valued at $1.4 billion. [8] Medina received about $83 million from the Verizon acquisition. [9] Verizon completed its acquisition of Terremark on April 12, 2011. [10] Medina left the company at the time of the takeover and Terremark had two presidents in the first year after the acquisition. Currently three high ranking executives are running the business. [11]

In October 2013, Secretary of Health and Human Services (HHS) Kathleen Sebelius revealed that Terremark, the web-hosting provider for HealthCare.gov, was the government contractor responsible for "outages that disrupted the website" when it was initially rolled out. [12] [13] A month later, HHS revealed that it did not renew its contract with Terremark, and instead awarded the contract for hosting HealthCare.gov to Hewlett-Packard. [14]

In Jan 2016, Verizon confirmed the intention to divest its data center portfolio, with Equinix (EQIX) for a consideration of around $3.5 billion. [15]

In May 2017, Verizon confirmed its divestiture of Terremark, selling to IBM.

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References

  1. ↑ "Equinix buys 29 data centers from Verizon, including NAP of the Americas". Miami Herald . Miami Herald. Retrieved 1 September 2021.
  2. ↑ "Verizon, IBM reach agreement on cloud services".
  3. ↑ "Major Employers". Beacon Council. Archived from the original on 2012-09-21. Retrieved 2012-08-20.
  4. ↑ "Long Road From Cuba". Sramana Mitra. 28 October 2009. Retrieved 2011-03-29.
  5. ↑ Rich Miller (May 12, 2009). "A Look Inside the NAP of the Americas". Data Center Knowledge. Retrieved 2010-08-20.
  6. ↑ "Euro-IX public resources". Archived from the original on 2008-05-19. Retrieved 2013-12-06.
  7. ↑ "New Instance of RIPE NCC Operated K-root Server Deployed in Miami, USA". RIPE NCC. 29 July 2005. Retrieved 2010-08-20.
  8. ↑ "Verizon to Buy Terremark for $1.4 Billion". The New York Times. 2011-01-27. Retrieved 29 March 2011.
  9. ↑ "Verizon to buy Miami-based Terremark". Miami Herald. 29 January 2011. Retrieved 2011-03-29.[ dead link ] Alt URL
  10. ↑ "Verizon Closes Terremark Deal". DailyMarkets.Com. 12 April 2011. Retrieved 21 August 2012.
  11. ↑ "Verizon's Terremark president resigns, company faces another executive shuffle". FierceTelecom. June 29, 2012. Retrieved 2012-08-21.
  12. ↑ Pear, Robert (October 31, 2013). "Kathleen Sebelius apologizes for health site's malfunctions". The New York Times. Boston Globe. Retrieved 2013-12-06.
  13. ↑ Thomas, Ken (October 27, 2013). "HealthCare.gov Data Center Crashes". Swampland. Time. Associated Press. Archived from the original on 2013-11-02. Retrieved 2013-12-06.
  14. ↑ Proffitt, Brian (November 28, 2013). "Terremark Gets Surgically Removed From HealthCare.gov". ReadWrite . Retrieved 2013-12-06.
  15. ↑ "Why Equinix is Buying Verizon Data Centers for $3.6B". Data Center Knowledge. 2016-12-06. Retrieved 2021-09-01.
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