Shawn Arcus, CEO of BurstNET stated, "This acquisition makes a lot of sense for both companies in our ability to monetize the asset from a cost savings perspective as well as seeing strong customer demand for many of our solutions coming out of the region.
We are planning on making additional investments in infrastructure and personnel to realize these opportunities, and improve the already well received service with existing customers."
Cyrus Maghami, Managing Director of Harbor Ridge Capital, said, "It was a pleasure advising Shawn and the team at BurstNET on this strategic acquisition.
"We are quite pleased with the results of this transaction, in providing a mutually beneficial outcome for both parties, as besides being attractive financially, the sale allows us to continue our focus on growing our domestic hosting, managed services and colocation, out of our new 32k sqft tier 3 data center facility in Northern PA," stated Shawn Arcus, CEO of BurstNET Technologies.
was a pleasure to work with, from beginning to end."
Cyrus Maghami, Managing Director of Harbor Ridge Capital, said, "This is the second transaction which we have had the pleasure of advising Shawn and the team at BurstNET, and expect to continue advising them on future initiatives as they continue their expansion.
Shawn Arcus, CEO of BurstNET® stated, "Having bootstrapped our business since inception and managing to see such strong growth, we are excited to have our first round of institutional capital to propel us forward.
Being properly capitalized gives us tremendous potential, along with a new, much larger, state of the art data center, which will allow us to serve larger complex hosting and colocation data center client opportunities."
Cyrus Maghami, Managing Director of Harbor Ridge Capital, said, "It has been a pleasure advising Shawn Arcus, and the team at BurstNET®, in evaluating and executing this transaction.