RagingWire's network connectivity
(WEB HOST INDUSTRY REVIEW) – Colocation firm RagingWire Enterprise Solutions (www.ragingwire.com) announced on Thursday that it has secured a total of $75 million in credit facilities to finance the company’s new Sacramento Data Center Campus and other sites under consideration.
“This significant financing comes at an extremely attractive interest rate which further demonstrates the industry’s confidence in our profitable operating model, predictable cash flow and strong balance sheet,” Yatish Mishra, president and CEO of RagingWire said in a statement. “This financing supports our dynamic expansion strategy, avoids dilution, and results in a greater return on shareholder equity.”
RagingWire’s new 250,000 square foot data center is currently under construction and will add to its existing 220,000 facility.
The new facility will be 2N+2 redundant, carrier neutral and accommodate client power denisities of over 250 watts per square foot, according to the company.
RagingWire says its new data center campus will be the largest of its kind in California. Designed to serve various enterprise and internet customers, the project is expected to be client-ready by April 2011.
RagingWire was formed in 2000 and has since been recongnized as an Inc. 500 fastest growing company and one of Sacramento’s fastest growing companies for five consecutive years.
About Nicole Henderson
Nicole Henderson writes full-time for the Web Host Industry Review where she covers daily news and features online, as well as in print. She has a bachelor of journalism from Ryerson University in Toronto, and has been writing for the WHIR since September 2010. You can find her on Twitter @NicoleHenderson.
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