January 4, 2005 — (WEB HOST INDUSTRY REVIEW) — Terremark Worldwide, Inc (terremark.com), a provider of integrated tier-1 Internet exchanges and network services, announced on Monday that it has acquired from its partners all of the equity interests not owned by it in the entity that owns the Technology Center of the Americas, home of Terremark’s flagship NAP of the Americas. Under the acquisition terms, Terremark paid $40 million for the equity interests in Technology Center of the Americas, LLC and repaid $35 million in debt.
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“With this purchase we have created a truly unique asset for our company,” says Manuel D. Medina, chairman and CEO of Terremark Worldwide Inc. “We already owned one of the most important telecommunications exchange points in the world – the NAP of the Americas – and now we own one of the most highly connected buildings in the world – TECOTA.”
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The company will file a current report on Form 8-K regarding the acquisition and financings by January 5, 2004. TECOTA, located in downtown Miami, is a state-of-the-art, 750,000 square foot data center where the NAP of the Americas currently resides on the second and third floors. The building was designed and built for the sole purpose of housing mission-critical systems.
