- Marilyn Kramer, DxCG
Mirus Advises Interland on Sale of Dedicated Web Hosting Business
David Hoffer / Elliot Williams
Date: Sep 06, 2005
Boston, MA, Sep 06, 2005 - Mirus Capital Advisors, Inc., announced today that it has advised its client, Interland, Inc., (NASDAQ: INLD) on the sale of its $35 million dedicated Web hosting business to Peer 1 Network Enterprises, Inc. (TSX-V: PIX). Under the agreement, Peer 1 Network acquired approximately 8,300 servers, as well as operating facilities totaling over 115,000 square feet in Atlanta, GA; Miami, FL; and Fremont, CA.
According to a press announcement from Interland, the sale of these assets positions the company to focus on Web site hosting, increases its cash position and is a major step toward restructuring Interland, which is a leading provider of Web sites and online services for small and medium-sized businesses. Interland provides its clients with the knowledge, services and tools to build, manage and promote businesses online. The company's wide range of online services include standardized Web hosting, ecommerce, application hosting, Web site development, online marketing and optimization tools.
This is the second transaction that Mirus has advised the Atlanta-based firm on this year. In May, Mirus advised Interland on the sale of the shared hosting business of its Hostcentric subsidiary to Caird Corporation.
Peer 1 Network, headquartered in Vancouver, Canada, is a provider of high performance Internet infrastructure. Since its founding in 1999, the company has grown to 12 state-of-the-art data centers and 17 points of presence across North American and Europe. Peer 1 serves customers who range from gaming to VoIP to enterprise.
About Mirus Capital Advisors
Mirus Capital Advisors provides investment banking solutions to middle market corporations in targeted technology, manufacturing, and service industries. Additional information about the firm is available on its Web site [http://www.merger.com].