IaaS company INAP, a provider of colocation, cloud and network services, has closed the sale of its data center facilities located at 1301 Fannin Street in Houston, Texas to an affiliate of the building’s current owner, a subsidiary of Netrality Data Centers, an interconnected data center and MMR provider.
Through a reseller agreement with Netrality Data Centers, INAP will continue to provide network services in the building, serving existing and potential future customers, and will become a customer of Netrality Data Centers going forward with respect to its network Point-of-Presence. Netrality Data Centers will provide on-premise colocation services including space, power and connectivity at the Houston data center.
“We are pleased to announce the sale of our Houston colocation business to Netrality,” said Mike Sicoli, President and Chief Executive Officer (CEO) of INAP. “Our colocation customers will be in great hands, as Netrality continues to invest in the building. The sale makes good sense for us right now, as we streamline our portfolio to position ourselves for organic growth.”
Emerging from Bankruptcy
INAP’s full-spectrum portfolio of high-density colocation, managed cloud hosting and network services supports evolving infrastructure requirements for customers ranging from the Fortune 500 to emerging startups. INAP completed a financial restructuring last month and emerged from bankruptcy. The listed company filed for Chapter 11 bankruptcy on March 16. It reported assets of $724 million and debts of $785 million, while citing the need to strengthen INAP’s capital structure after failing to find a buyer or strategic partner.
“We are excited about the acquisition of INAP’s colocation and meet-me-room assets at 1301 Fannin. The synergies between our two ecosystems of service providers will create seamless connectivity options for our customers, enriching the interconnectivity of our Houston data center,” said Gerald Marshall, Chief Executive Officer at Netrality Data Centers. “INAP’s space can accommodate higher-density requirements which nicely complements our existing colocation space and allows us to cater to a wider range of customers.”
Netrality owns and operates strategic interconnected data centers and meet me rooms, providing a mix of colocation, powered shell and wholesale data center solutions driven by fiber-dense, network-rich interconnection environments. Netrality Data Centers today has over 3 million square feet and 100 megawatts of capacity across six strategic data centers in five markets: 210 North Tucker and 900 Walnut in St. Louis, Missouri, 1102 Grand in Kansas City, Missouri, 1301 Fannin in Houston, Texas, 401 North Broad in Philadelphia, Pennsylvania, and 717 South Wells in Chicago, Illinois.