redIT Gets $72 Million Investment from Cartesian Capital Group, Digital Realty

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Cloud services and data center provider redIT announced on Thursday that Cartesian Capital Group and Digital Realty have made an investment of $72 million in redIT’s common stock.

The move comes a few months after redIT opened its new 95,000-square-foot data center in the Tultitlán area of Mexico City.

The substantial investment will allow redIT to expand on its physical infrastructure as well as strengthen its services and operational capabilities.

More specifically, redIT will use the funds to expand the company’s data center operations throughout Mexico and the southwestern United States.

“We are delighted to have Digital Realty and Cartesian as our partners for the next phase of redIT’s rapid development,” said redIT’s CEO Murray Case. “The partnership means redIT will have all the resources necessary to expand our world class services to our clients, including providing them with the expertise behind Digital Realty’s data centers. Moreover, our partnership contemplates continuing to expand our exceptional new data center complex at redIT.DataPark outside of Mexico City, and developing new data centers in other Mexican cities.”

Mexico’s web hosting and cloud hosting market has rapidly growing within the past couple of years.

According to Gartner, Mexico’s public cloud market is expected to grow by 25 percent from 2012 to 2017, reaching a value of nearly $2 billion to solidify it as one of the most valuable cloud markets in Latin America.

This year alone has seen Rackspace actively marketing its “Fanatical Support” in Mexico, as well as the opening of HostDime’s new data center in Guadalajara, Mexico.

“Mexico is a market of immense potential and sophistication, and redIT is a natural partner as we explore how best to participate in the region,” said Michael F. Foust, Digital Realty’s CEO. “We believe that Mexico City, as the hemisphere’s largest metropolitan region, deserves and requires a state-of-the-art data center complex, and we are delighted to be redIT’s partner in developing redIT.DataPark. Looking forward, we are enthusiastic about the continued development of world-class data centers in Mexico.”

redIT provides a range of managed IT services, customizable cloud services, high-capacity connectivity and data centers in the southwestern US and Latin America.

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