Terremark

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Terremark Worldwide, Inc.
TypeSubsidiary
Founded1980 (1980)
FounderManny Medina[1]
Headquarters
Miami
,
USA
Servicesinformation technology services
Revenue$ 292 M (2010)
$ -31 M (2010)
Number of employees
859 total
260 in South Florida
ParentEquinix, Inc.
Websitewww.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 has gone through two presidents in one year. 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 Inc. (EQIX) for a consideration of around $3.5 billion.[15]

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

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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