Terremark Acquires DS3 Data Vaulting

Terremark Worldwide, Inc., a provider of managed IT infrastructure services, has reportedly acquired a data management solutions company DS3 DataVaulting, for a purchase price of $11.5 million in cash.

“Acquiring DS3 enhances our overall data storage offering and helps us accelerate the development of our solutions in the area of managed storage, which is a key growth opportunity driven by the escalating data demands created by new technologies and increasingly stringent regulatory compliance,” said Marvin Wheeler, chief strategy officer at Terremark, in a release.

“Combining DS3’s innovative backup and restore offerings with our existing suite of services and top-tier, highly connected facilities significantly add to the value that our data storage solutions provide to enterprises and Federal government agencies,” he added. “We also expect to realize cost synergies by relocating DS3’s infrastructure to our world-class data centers and eliminating the need to outsource some of our data storage services.”

Founded in 2002, the Fairfax, Va.-based company provides online data backup and restore services which enable enterprises and government agencies to rapidly and securely backup and restore files, databases and operating systems. The company was recently selected as an Asigra 3D Hybrid Partner, which is said to underscore DS3’s commitment to deliver scalable backup and restores solutions that minimize customer costs.

“By adding our talented team of professionals and their strong industry relationships to a company that shares our commitment to quality customer service, we believe that we will maximize the impact our solutions can have,” said Stacy Hayes, president of DS3. “We’re excited to join the Terremark family and offer Terremark’s existing and prospective customers a superior option for their data backup and storage needs.”

Terremark official also mentioned that DS3’s cost-effective, efficient and flexible managed storage solution represents an ideal strategic fit with Terremark’s complete set of managed IT infrastructure services. With a large list of enterprise and government customers, including the National Oceanic (News - Alert) and Atmospheric Administration, the addition of DS3 also provides Terremark with a considerable opportunity to up sell its full suite of services to a new customer base.

Terremark has been delivering government and enterprise customers a comprehensive suite of managed solutions including managed hosting, colocation, disaster recovery, security, data storage and cloud computing services. The company also recently appointed Marvin Wheeler, former chief operations officer and president of the U.S. Commercial Business Unit, as its chief strategy officer.