Having bootstrapped our business since inception and managing to see such strong growth, we are excited to have our first round of institutional capital to propel us forward.
Beverly Hills, CA and Scranton, PA (PRWEB) January 17, 2012
Harbor Ridge Capital, an M&A advisory group focused on lower middle market technology companies, announced it has completed a capital raise for BurstNET Technologies Inc., which was funded by an undisclosed institutional investor.
Headquartered in Scranton, PA, with additional points of presence in four locations globally, BurstNET® is a leading mass market hosting and data center provider, offering a variety of hosting solutions, including Cloud Computing, Dedicated Servers, Virtual Private Servers (VPS), and Colocation racks and cages. The growth capital will be used to support and enable its continued rapid growth, including expansion into new geographic markets which are in high demand, as well as expanding into a new 30,000 sq ft. data center, replacing its headquarters in Scranton, PA. The Company is poised to continue serving the strong demand for its offerings, by enhancing the customer experience, in adding additional resources to customer service, and furthering its software development efforts to better automate its front end and back end platforms. The firm, Harbor Ridge Capital, LLC, was the exclusive M&A advisor for BurstNET® on the transaction.
Shawn Arcus, CEO of BurstNET® stated, “Having bootstrapped our business since inception and managing to see such strong growth, we are excited to have our first round of institutional capital to propel us forward. Being properly capitalized gives us tremendous potential, along with a new, much larger, state of the art data center, which will allow us to serve larger complex hosting and colocation data center client opportunities.”
Cyrus Maghami, Managing Director of Harbor Ridge Capital, said, “It has been a pleasure advising Shawn Arcus, and the team at BurstNET®, in evaluating and executing this transaction. Having guided the company in evaluating numerous investment options during the process, we are pleased with the deal and the organization that the company selected.”
Arman Khalili, Operational Partner of Harbor Ridge Capital, said, “This is an exciting time in the internet infrastructure space, such as data centers and complex hosting, and we expect the amount of M&A activity in this space to grow in 2012.”
About BurstNET Technologies, Inc.
BurstNET®, headquartered in Scranton, Pennsylvania, with points of presence in Los Angeles, CA, Miami, FL, and Manchester, United Kingdom, is a leading mass market hosting and colocation data center provider. Offering cloud computing, dedicated servers, virtual private servers, and data center space, the company has seen strong growth since inception. BurstNET® established itself in the industry prior to the explosion of the web hosting market. The Company serves approximately 30,000 end clients across the globe, hosting nearly 10,000 dedicated servers and co-located machines, 20,000+ Virtual Private Servers (VPS), and millions of websites.
About Harbor Ridge Capital, LLC
Harbor Ridge Capital, LLC is a boutique investment bank based in Los Angeles, CA, focused on advising lower middle market technology companies in various areas such as institutional capital raising, sell-side M&A, buy-side M&A as well as select strategic consulting. Verticals of focus include software, IT services, internet infrastructure (cloud, hosting, data centers, and managed services) and related technology verticals. Harbor Ridge prides itself in guiding entrepreneurs through the vagaries, and complexities of an M&A transaction, while allowing the entrepreneur to focus on managing and growing their business. For more information on Harbor Ridge Capital LLC, visit http://www.harborridgecap.com or call (310) 247-0156.