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May 15, 2003 — (WEB HOST INDUSTRY REVIEW) — Saratoga Partners (saratogapartners.com), a New York Investment firm has secured a $28 million bid to acquire the managed hosting business of Divine, Inc. (divine.com) in a bankruptcy court auction.
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Saratoga will re-brand the newly acquired business as Data Return and has appointed Data Return founder Sunny Vanderbeck as CEO.
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Data Return was originally a Dallas-based hosting firm founded in 1997 but later acquired by Divine. Its hosting business included the assets of several acquisitions including Data Return, Intira and Host One.
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Christian Oberbeck, managing director of Saratoga, said the managed services business was “clearly one of Divine’s most valuable assets, and we are confident that our partnership with its founding management will make it an outstanding acquisition for Saratoga and our investors.”
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Vanderbeck echoed the optimistic sentiments. “We are excited about our new partnership with Saratoga Partners. The combination of our industry experience, innovation and capabilities along with our ability to operate as a profitable standalone business is unique.”
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Data Return is a Web hosting provider focused on Microsoft platforms. Based in Lisle, Illinois, Divine is an enterprise software solutions provider. It filed for Chapter 11 bankruptcy protection in February of this year and is currently in the process of restructuring its operations.
