ViaWest Secures $31 Million in Debt Financing; Funding Fuels Strategic Growth Plan.DENVER -- ViaWest, a provider of dependable colocation and managed hosting solutions, today announced it has secured $31 million in debt financing Debt Financing When a firm raises money for working capital or capital expenditures by selling bonds, bills, or notes to individual and/or institutional investors. In return for lending the money, the individuals or institutions become creditors and receive a promise to repay from a leading New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of financial institution. "ViaWest consistently shows record financial growth and is on target to continue strong top line and earnings growth, and close a solid second quarter," said Mike Kzra, senior vice president of finance, ViaWest. "Securing this level of financing is a show of market confidence not only in our management team but in our ability to execute against our strategic growth plan." Of the $31 million secured, ViaWest will use $13 million to repay existing debt and fund the immediate acquisition of Fortix, a Portland, Oregon-based managed service provider. The acquisition of Fortix allows ViaWest to enter a third major market with a Tier 1 data center and significantly increase its leadership position. The remaining $18 million is earmarked for additional expansion and acquisition opportunities that strategically align with ViaWest's business in its three existing geographic markets or helping the company expand into yet a fourth market. "ViaWest has successfully completed 16 acquisitions since 1999," said Roy Dimoff, chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , ViaWest. "We are confident in our expansion plans including identifying additional, strategic acquisition targets similar to Fortix that will allow us to enter additional major markets and expand our footprint across the U.S." About ViaWest ViaWest provides a unique set of colocation, managed hosting solutions and comprehensive services to mid-sized businesses. Headquartered in Denver, Colorado, with additional Tier 1 data centers in Utah and Oregon, ViaWest offers broad and deep expertise to furnish fur·nish tr.v. fur·nished, fur·nish·ing, fur·nish·es 1. To equip with what is needed, especially to provide furniture for. 2. its customers with leading technology infrastructure solutions and the critical resources to support their unique business needs. Partnering with ViaWest allows businesses to focus on their core competencies A core competency is something that a firm can do well and that meets the following three conditions specified by Hamel and Prahalad (1990):
For the similarly named Frontier Flying Service see Frontier Flying Service. , the Denver Broncos, Exclusive Resorts and Chipotle chi·pot·le n. A ripe jalapeño pepper that has been dried and smoked for use in cooking. [American Spanish, from Nahuatl xipotli.] Noun 1. . For more information, please visit www.viawest.net or call 877-448-9378. |
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