Chicago, IL (PRWEB) January 3, 2011
Steadfast Networks, a Chicago-based provider of hosting, colocation and managed server solutions, announced today the acquisition of Radius IT, a Chicago-based systems consulting firm. Radius IT has 20 years of experience with financial companies including electronic trading companies, options traders, hedge funds, and investment banking firms. Radius IT offers business solutions including system design and integration services for clients. Tim Hicks, the previous owner of Radius IT, has taken a position at Steadfast Networks.
Radius IT performed services including procurement of needed hardware for clients and scouting of data center locations. The acquisition was completed to meet Radius IT’s need for a partner that could handle the actual hardware and configuration, and Steadfast Networks’ desire to enhance its consulting services.
The acquisition spurred the creation of Steadfast Networks newest division, Steadfast Financial Networks (SteadfastFN) in order for the company to handle explosive growth in the number of its financial services clients. Offering a complete end-to-end solution of IT services for financial trading companies, SteadfastFN offers services including market data, consulting, colocation, network services, and 24/7 monitoring.
Financial services clients will be handled through SteadfastFN’s colocation facility at 350 E Cermak Rd in Chicago and its New York City locations. The Chicago building shares space with major financial institutions including the Chicago Mercantile Exchange. Physical proximity to the financial exchange data matching engines is important for improved low latency data speeds and security.
“More and more customers desire to work with only one partner for their IT needs,” said Karl Zimmerman, Founder and CEO of Steadfast Networks. “With our acquisition of Radius IT, we blended their expertise in the financial network consulting side with our facilities to allow us to offer everything inhouse. SteadfastFN offers complete hardware and network setup and true management with 24/7 monitoring staffed by experienced IT administrators. We are a perfect solution for financial trading companies that want the ease and security of working with one vendor who can handle their data management needs from start to finish.”
Steadfast Financial Networks has several technology partners from top firms including Cisco, Arista, Citrix, Dell, and Microsoft. The company provides execution connections with exchanges including the NASDAQ, NYSE/ARCA, BATS, DirectEdge, CBOE, CME, and others.
About Steadfast Networks:
Steadfast Networks is a Chicago-based company that provides data management services including managed dedicated servers, financial exchange market data, and Chicago and New York colocation services. The company meets the data and colocation needs of thousands of small and mid-sized companies and operates more than 20,000 square feet of data center space. Its Steadfast Financial Networks provides execution access services to the largest financial markets in the world, providing low-latency proximity financial market data. Steadfast Networks has been listed on the Inc. 5000 list of America’s fastest growing private companies for the past three years.