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InterNAP Network Services Corp Announces Acquisition Of iWeb

Wednesday, 30 Oct 2013 04:20pm EDT 

Internap Network Services Corporation announced plans to acquire hosting and cloud provider iWeb in a deal valued at approximately $145 million. The combination creates a top five pure-play IT infrastructure services provider, with trailing twelve months revenue in excess of $320 million. Jefferies LLC served as the exclusive financial advisor to Internap. The Bank Street Group LLC served as financial advisor for iWeb. Internap received a commitment from Jefferies Finance LLC and PNC Bank, National Association to provide a new $350 million credit facility that will be used, in part, to fund the acquisition and pay off existing debts. Internap expects the acquisition to close in December of 2013, following customary closing conditions. 

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-0.16 -1.86%
30 Jan 2015