South Bend-based Gramtel bought for $20 million…one less locally owned business = a few more wealthy Hoosiers
I talked to one of their sales guys today (he didn’t mention the sale)…I’ve been thinking about hosting a server with them (they have a well-connected data warehouse for computer servers in nearby South Bend — they’re also developing the fiber infrastructure for Elkhart County). Now that they’re not locally-owned, I’m not sure what separates them from every other hosting provider out there. Oh well.
From the press release:
CINCINNATI – January 7, 2008 – Cincinnati Bell Inc. (NYSE: CBB) today announced that it has acquired the assets of GramTel USA, Inc. in a transaction valued at approximately $20 million. GramTel is a subsidiary of Chicago-based Jordan Industries, Inc. and provides disaster recovery/business continuity services, data backup and co-location services. Located in South Bend, Ind., GramTel has four data centers with total floor capacity of 22,500 square feet. The company expects 2007 revenue of roughly $5 million, an increase of 73 percent from 2006.
“The acquisition of GramTel allows Cincinnati Bell to extend the geographic reach of our data center co-location capabilities and further strengthen our competitive local strategies,†said Shane Brown, vice president of business development for Cincinnati Bell. “In addition, GramTel’s focus on providing disaster recovery and business continuity services to small and mid-tier businesses is a perfect complement to the success Cincinnati Bell has had in serving larger enterprises.â€Â
