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(The Hosting News) – HP and 3PAR Inc. today announced that they have entered into a definitive agreement under which HP will purchase 3PAR through a cash tender offer of $33 per share in cash, or an enterprise value of $2.35 billion. The transaction has been approved by the boards of directors of both companies.
Combining 3PAR’s leading-edge utility storage products with HP’s existing storage solutions will strengthen HP’s unparalleled storage, server and networking portfolio. 3PAR will accelerate HP’s highly successful Converged Infrastructure strategy by driving growth in the fast-growing virtual data center and cloud computing markets. HP’s global presence, commitment to innovation and proven track record of integrating acquisitions will provide growth opportunities for 3PAR going forward.
“HP and 3PAR is a winning combination that will accelerate HP’s Converged Infrastructure strategy and bolster our ability to provide customers with the industry’s highest levels of performance, efficiency and reliability,” said Dave Donatelli, executive vice president and general manager, Enterprise Servers, Storage and Networking, HP. “We intend to invest in 3PAR’s technology to create long-term value for our stakeholders.”
“As part of HP, 3PAR’s agile, efficient storage solutions will truly thrive, particularly given HP’s ability to accelerate investment in our products and reach new customers around the world,” said David Scott, president and chief executive officer, 3PAR. “3PAR has built a reputation for delivering enterprises and cloud computing service providers the ability to do more with less. HP’s global reach, strong routes to market and our shared culture of innovation will allow even more organizations to experience the transformative value of 3PAR’s technology.”
3PAR also announced that it has terminated its merger agreement with Dell Inc. and paid Dell the $72 million termination fee required to be paid to Dell as a condition to terminating the merger agreement.
HP’s cash tender offer commenced on August 27, 2010 and it is scheduled to expire at 12:00 midnight, New York City time on September 24, 2010, subject to customary tender offer conditions being satisfied. The final closing of the acquisition is expected to occur by the end of the calendar year. HP also announced today the satisfaction of the conditions to its tender offer related to (1) the termination of 3PAR’s merger agreement with Dell and the execution of a definitive merger agreement with HP, and (2) the inapplicability of Section 203 of the Delaware General Corporation Law to HP’s tender offer and proposed merger with 3PAR.
Source: HP Acquires 3PAR
(The Hosting News) – HP and 3PAR Inc. today announced that they have entered into a definitive agreement under which HP will purchase 3PAR through a cash tender offer of $33 per share in cash, or an enterprise value of $2.35 billion. The transaction has been approved by the boards of directors of both companies.
Combining 3PAR’s leading-edge utility storage products with HP’s existing storage solutions will strengthen HP’s unparalleled storage, server and networking portfolio. 3PAR will accelerate HP’s highly successful Converged Infrastructure strategy by driving growth in the fast-growing virtual data center and cloud computing markets. HP’s global presence, commitment to innovation and proven track record of integrating acquisitions will provide growth opportunities for 3PAR going forward.
“HP and 3PAR is a winning combination that will accelerate HP’s Converged Infrastructure strategy and bolster our ability to provide customers with the industry’s highest levels of performance, efficiency and reliability,” said Dave Donatelli, executive vice president and general manager, Enterprise Servers, Storage and Networking, HP. “We intend to invest in 3PAR’s technology to create long-term value for our stakeholders.”
“As part of HP, 3PAR’s agile, efficient storage solutions will truly thrive, particularly given HP’s ability to accelerate investment in our products and reach new customers around the world,” said David Scott, president and chief executive officer, 3PAR. “3PAR has built a reputation for delivering enterprises and cloud computing service providers the ability to do more with less. HP’s global reach, strong routes to market and our shared culture of innovation will allow even more organizations to experience the transformative value of 3PAR’s technology.”
3PAR also announced that it has terminated its merger agreement with Dell Inc. and paid Dell the $72 million termination fee required to be paid to Dell as a condition to terminating the merger agreement.
HP’s cash tender offer commenced on August 27, 2010 and it is scheduled to expire at 12:00 midnight, New York City time on September 24, 2010, subject to customary tender offer conditions being satisfied. The final closing of the acquisition is expected to occur by the end of the calendar year. HP also announced today the satisfaction of the conditions to its tender offer related to (1) the termination of 3PAR’s merger agreement with Dell and the execution of a definitive merger agreement with HP, and (2) the inapplicability of Section 203 of the Delaware General Corporation Law to HP’s tender offer and proposed merger with 3PAR.
(The Hosting News) – The Planet, the global hosting leader, today announced enhancements to its partner program commission structure, providing additional opportunities for referral partners to earn money. Registered referral partners now receive incentives on an even broader range of contract terms. In addition to standard monthly recurring payments for contracts of 12 months or longer, The Planet now provides commissions for month-to-month agreements and six-month contracts.
The Planet Partner Plus Referral Program provides industry-leading commissions – up to 20 percent of deal size – to registered agents who refer business to the company. Partners can choose from The Planet’s wide range of hosting solutions and technologies, from data center colocation and dedicated hosting, to on-demand cloud computing and fully managed hosting.
“We provide web development, hosting and online marketing solutions to our customers, and they often approach us with a need for IT infrastructure that meets certain compliance, technology or access requirements,” said Dean Dorazio, chief executive officer at Wakefly (http://www.wakefly.com). “We joined The Planet’s referral program to have a trusted technology partner, and we’re confident in their delivery based on our experience. The solutions we build for customers – new websites, custom applications and online advertising – all rely on platforms that are available around the clock. With The Planet’s enhanced commission structure, we can add more value to our bottom line while providing end-to-end technology solutions for our customers.”
“Referral partners like Wakefly consistently look for new opportunities to provide value to their customers while building new revenue streams,” said Drew Jenkins, channel sales manager for The Planet. “To do that, they must have technology partners they can trust. We offer a wide range of hosting solutions within our portfolio, so partners can solve a variety of IT problems for their clients. With the improvements to our commission structure, our channel partners have even more opportunities to benefit from referring business to The Planet.”
For more information on The Planet Partner Plus referral program, visit http://www.theplanet.com/partners/.
About Wakefly
Wakefly is a web development and online marketing firm specializing in design, lead generation and conversion tools that will deliver a high return on investment. The Company offers a proven process to optimize marketing initiatives across both online and offline channels in order to drive higher numbers of visitors to a web property. Their expert team, with diverse backgrounds in marketing, technology, and creative, has the combined experience to make marketing easy. The Company is committed to delivering high-value leads and measurable ROI. For more information, please visit http://www.wakefly.com or call (508) 616-2042.
About The Planet
The Planet is the leading provider of On Demand IT Infrastructure solutions, hosting more than 18,000 small- and medium-size businesses and 12 million Web sites worldwide. Customers have the power to choose from the broadest range of hosting solutions in the industry, from dedicated servers, Essential Managed Services, Managed Hosting and data center colocation, all backed by 24×7×365 support. With the best choice of servers, software tools and world-class service, backed by state-of-the-art data centers and an enterprise-class network, The Planet turns IT into a powerful competitive advantage that enables customers to grow their businesses. For additional information, visit http://www.theplanet.com.
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Source: The Planet Boosts Referral Program With New Commission Structure
(The Hosting News) – Emulex Corporation (NYSE:ELX) today announced that Jeff Benck has been promoted to the company’s president and chief operating officer (COO). In this position, Benck will focus on delivering growth and diversification of products and technologies that drive the adoption of Emulex products in the data center. Benck will continue to report directly to Emulex chief executive officer (CEO), Jim McCluney. This promotion brought forth by McCluney, has been unanimously approved by the board of directors.
“Jeff Benck has been promoted to president and COO based on his successful execution on key original equipment manufacturer (OEM) design wins and his leadership as the company transformed itself in order to compete in the emerging 10Gb Ethernet network convergence market,” said Jim McCluney, CEO, Emulex. “Based on Jeff’s effectiveness at Emulex and his previous leadership roles across the industry, I am confident that he will help us fully realize the tremendous growth opportunities in front of us.”
“I would like to thank Jim and the Board of Directors for their confidence in our ability to execute and lead in the rapidly growing 10Gb/s Ethernet network convergence market,” said Jeff Benck, president and COO, Emulex. “I look forward to continuing my work with Jim and the rest of the executive team as we expand our data center footprint and strengthen our position as a key technology provider to server and storage OEMs.”
Source: Jeff Benck Named Emulex President and COO
(The Hosting News) – Emulex Corporation (NYSE:ELX) today announced that Jeff Benck has been promoted to the company’s president and chief operating officer (COO). In this position, Benck will focus on delivering growth and diversification of products and technologies that drive the adoption of Emulex products in the data center. Benck will continue to report directly to Emulex chief executive officer (CEO), Jim McCluney. This promotion brought forth by McCluney, has been unanimously approved by the board of directors.
“Jeff Benck has been promoted to president and COO based on his successful execution on key original equipment manufacturer (OEM) design wins and his leadership as the company transformed itself in order to compete in the emerging 10Gb Ethernet network convergence market,” said Jim McCluney, CEO, Emulex. “Based on Jeff’s effectiveness at Emulex and his previous leadership roles across the industry, I am confident that he will help us fully realize the tremendous growth opportunities in front of us.”
“I would like to thank Jim and the Board of Directors for their confidence in our ability to execute and lead in the rapidly growing 10Gb/s Ethernet network convergence market,” said Jeff Benck, president and COO, Emulex. “I look forward to continuing my work with Jim and the rest of the executive team as we expand our data center footprint and strengthen our position as a key technology provider to server and storage OEMs.”
(The Hosting News) – Emulex Corporation (NYSE:ELX) today announced that Jeff Benck has been promoted to the company’s president and chief operating officer (COO). In this position, Benck will focus on delivering growth and diversification of products and technologies that drive the adoption of Emulex products in the data center. Benck will continue to report directly to Emulex chief executive officer (CEO), Jim McCluney. This promotion brought forth by McCluney, has been unanimously approved by the board of directors.
“Jeff Benck has been promoted to president and COO based on his successful execution on key original equipment manufacturer (OEM) design wins and his leadership as the company transformed itself in order to compete in the emerging 10Gb Ethernet network convergence market,” said Jim McCluney, CEO, Emulex. “Based on Jeff’s effectiveness at Emulex and his previous leadership roles across the industry, I am confident that he will help us fully realize the tremendous growth opportunities in front of us.”
“I would like to thank Jim and the Board of Directors for their confidence in our ability to execute and lead in the rapidly growing 10Gb/s Ethernet network convergence market,” said Jeff Benck, president and COO, Emulex. “I look forward to continuing my work with Jim and the rest of the executive team as we expand our data center footprint and strengthen our position as a key technology provider to server and storage OEMs.”
(The Hosting News) – SingleHop, Inc. announced today that it has been ranked #58 in the 2010 Inc. 500 list, an annual listing of America’s fastest-growing private companies compiled by Inc. Magazine. Chicago-based SingleHop, which provides dedicated servers and complex web hosting, is the top-ranked company in the Web hosting industry, third fastest-growing IT Services company, and the second highest ranked Chicago business. The company’s sales have grown by 3,895% in the last three years.
“We’re beyond thrilled to be recognized with high placement in such a prestigious list as the Inc. 500,” said Zak Boca, President and Chief Executive Officer of SingleHop. “It’s a reflection of all the hard work that everyone on our team has put in, and signifies that our commitment to service and innovation were the keys to success.” To be included in the Inc. 500, a firm must demonstrate exceptional growth for a period of at least three years. SingleHop’s inclusion as a top 100 firm exhibits tenacious determination to grow in spite of and through the current weak economic climate.
The company continues to set milestones, with the following highlights:
•Employee headcount increased from 20 employees in 2009 to over 50 for 2010
•EBITDA margins in excess of 40%
•Projected gross revenues of $13 million for 2010
•Ending 2010 with projected annualized revenues of $20 million
•#1 Fastest Growing Web Hosting Company in Inc. 500 list
•#2 Fastest Growing Company Award in Chicago Award by Inc. Magazine
•#3 Fastest Growing Company Award in IT Services by Inc. Magazine
The firm is positioned for continued growth, having recently launched Cascade, SingleHop’s cloud computing platform. “Like many of our innovative products, Cascade will undoubtedly play a significant role in our future growth. Cascade is a simple product that is added to on top of a dedicated server, yet offers advanced cloud hosting benefits. It’s a simple concept, with a simple pricing model, which we feel is important in the cloud computing space,” says Zak Boca.
Source: SingleHop Named to Inc. 500 List
(The Hosting News) – SingleHop, Inc. announced today that it has been ranked #58 in the 2010 Inc. 500 list, an annual listing of America’s fastest-growing private companies compiled by Inc. Magazine. Chicago-based SingleHop, which provides dedicated servers and complex web hosting, is the top-ranked company in the Web hosting industry, third fastest-growing IT Services company, and the second highest ranked Chicago business. The company’s sales have grown by 3,895% in the last three years.
“We’re beyond thrilled to be recognized with high placement in such a prestigious list as the Inc. 500,” said Zak Boca, President and Chief Executive Officer of SingleHop. “It’s a reflection of all the hard work that everyone on our team has put in, and signifies that our commitment to service and innovation were the keys to success.” To be included in the Inc. 500, a firm must demonstrate exceptional growth for a period of at least three years. SingleHop’s inclusion as a top 100 firm exhibits tenacious determination to grow in spite of and through the current weak economic climate.
The company continues to set milestones, with the following highlights:
•Employee headcount increased from 20 employees in 2009 to over 50 for 2010
•EBITDA margins in excess of 40%
•Projected gross revenues of $13 million for 2010
•Ending 2010 with projected annualized revenues of $20 million
•#1 Fastest Growing Web Hosting Company in Inc. 500 list
•#2 Fastest Growing Company Award in Chicago Award by Inc. Magazine
•#3 Fastest Growing Company Award in IT Services by Inc. Magazine
The firm is positioned for continued growth, having recently launched Cascade, SingleHop’s cloud computing platform. “Like many of our innovative products, Cascade will undoubtedly play a significant role in our future growth. Cascade is a simple product that is added to on top of a dedicated server, yet offers advanced cloud hosting benefits. It’s a simple concept, with a simple pricing model, which we feel is important in the cloud computing space,” says Zak Boca.
Chicago, IL: August 24, 2010: SingleHop, Inc. announced today that it has been ranked #58 in the 2010 Inc. 500 list, an annual listing of America’s fastest-growing private companies compiled by Inc. Magazine. Chicago-based SingleHop, which provides dedicated servers and complex web hosting, is the top-ranked company in the Web hosting industry, third fastest growing IT Services company, and the second highest ranked Chicago business. The company’s sales have grown by 3,895% in the last three years. “We’re beyond thrilled to be recognized with high placement in such a prestigious list as the Inc. 500,” said Zak Boca, President and Chief Executive Officer of SingleHop. “It’s a reflection of all the hard work that everyone on our team has put in, and signifies that our commitment to service and innovation were the keys to success.” To be included in the Inc. 500 , a firm must demonstrate exceptional growth for a period of at least three years. SingleHop’s inclusion as a top 100 firm exhibits tenacious determination to grow in spite of and through the current weak economic climate.
The company continues to set milestones, with the following highlights:
- Employee head count increased from 20 employees in 2009 to over 50 for 2010.
- EBITDA margins in excess of 40%
- Projected gross revenues of $13 million for 2010
- Ending 2010 with projected annualized revenues of $20 million
- #1 Fastest Growing Web Hosting Company in Inc. 500 list
- #2 Fastest Growing Company Award in Chicago Award by Inc Magazine
- #3 Fastest Growing Company Award in IT Services by Inc Magazine
The firm is positioned for continued growth, having recently launched Cascade, SingleHop’s cloud computing platform. “Like many of our innovative products, Cascade will undoubtedly play a significant role in our future growth. Cascade is a simple product that is added to on top of a dedicated server, yet offers advanced cloud hosting benefits. It’s a simple concept, with a simple pricing model, which we feel is important in the cloud computing space.” says Zak Boca.
About 2010 Inc. 500
The INC 500 list is produced by INC magazine and features the 500 fastest growing businesses in America. In order to qualify, companies must have been founded and generating revenue by the first week of 2006, and therefore able to show four full calendar years of sales. Additionally, they had to be U.S.-based, privately held, for profit, and independent—not subsidiaries or divisions of other companies—as of December 31, 2009. www.inc.com
About SingleHop
SingleHop, Inc., is a full-service managed dedicated hosting provider that was founded on the principal of providing reliable, cost-effective, dedicated servers. The company was founded by Zak Boca and Dan Ushman in 2006 and currently hosts thousands of websites from around the world. The cornerstone of SingleHop’s managed hosting is its à la Carte Server Management Program, a full array of transparent management services designed and tested to allow business customers to tailor their level of support to their needs or expertise. www.singlehop.com
Chicago, IL: August 24, 2010: SingleHop, Inc. announced today that it has been ranked #58 in the 2010 Inc. 500 list, an annual listing of America’s fastest-growing private companies compiled by Inc. Magazine. Chicago-based SingleHop, which provides dedicated servers and complex web hosting, is the top-ranked company in the Web hosting industry, third fastest growing IT Services company, and the second highest ranked Chicago business. The company’s sales have grown by 3,895% in the last three years. “We’re beyond thrilled to be recognized with high placement in such a prestigious list as the Inc. 500,” said Zak Boca, President and Chief Executive Officer of SingleHop. “It’s a reflection of all the hard work that everyone on our team has put in, and signifies that our commitment to service and innovation were the keys to success.” To be included in the Inc. 500 , a firm must demonstrate exceptional growth for a period of at least three years. SingleHop’s inclusion as a top 100 firm exhibits tenacious determination to grow in spite of and through the current weak economic climate.
The company continues to set milestones, with the following highlights:
- Employee head count increased from 20 employees in 2009 to over 50 for 2010.
- EBITDA margins in excess of 40%
- Projected gross revenues of $13 million for 2010
- Ending 2010 with projected annualized revenues of $20 million
- #1 Fastest Growing Web Hosting Company in Inc. 500 list
- #2 Fastest Growing Company Award in Chicago Award by Inc Magazine
- #3 Fastest Growing Company Award in IT Services by Inc Magazine
The firm is positioned for continued growth, having recently launched Cascade, SingleHop’s cloud computing platform. “Like many of our innovative products, Cascade will undoubtedly play a significant role in our future growth. Cascade is a simple product that is added to on top of a dedicated server, yet offers advanced cloud hosting benefits. It’s a simple concept, with a simple pricing model, which we feel is important in the cloud computing space.” says Zak Boca.
About 2010 Inc. 500
The INC 500 list is produced by INC magazine and features the 500 fastest growing businesses in America. In order to qualify, companies must have been founded and generating revenue by the first week of 2006, and therefore able to show four full calendar years of sales. Additionally, they had to be U.S.-based, privately held, for profit, and independent—not subsidiaries or divisions of other companies—as of December 31, 2009. www.inc.com
About SingleHop
SingleHop, Inc., is a full-service managed dedicated hosting provider that was founded on the principal of providing reliable, cost-effective, dedicated servers. The company was founded by Zak Boca and Dan Ushman in 2006 and currently hosts thousands of websites from around the world. The cornerstone of SingleHop’s managed hosting is its à la Carte Server Management Program, a full array of transparent management services designed and tested to allow business customers to tailor their level of support to their needs or expertise. www.singlehop.com
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