SoftLayer Technologies (formerly known as The Planet) provides internet infrastructure services including cloud computing, managed and unmanaged dedicated bare metal servers, and related services. SoftLayer operates 13 data centers globally, manages more than 100,000 servers, firewalls and load balancers, and serves 21,000 customers across 140 countries. SoftLayer is headquartered in Dallas (www.softlayer.com).
“It has been a pleasure working in partnership with GI Partners. Since GI’s investment in 2010, we have undergone a dramatic transformation by upgrading our networks and facilities, broadening our customer base, expanding into international markets, and repositioning the company as a leader in the cloud services arena,” said Lance Crosby, CEO of SoftLayer. “Our combination with IBM is a validation of these efforts. We look forward to the opportunity to work as part of the IBM team to broaden our presence in the cloud.”
GI Partners invests from $50 million to $250 million in equity in companies with enterprise values of $100 million to $750 million. Sectors of interest include IT infrastructure & services; healthcare services; leisure & retail; and financial & real estate services. The firm was founded in 2001 and is based in Menlo Park (www.gipartners.com).
“As an active investor in Internet infrastructure and services for more than a decade, we are pleased to announce this transaction. This is an important area of investment for our firm. Our highest compliments go out to Lance Crosby and his team for their efforts to build a company with a customer-focused product offering, a culture that supports rapid innovation, and a strategy that is well-suited to the rapid changes taking place in cloud computing. I am confident that the company will continue to thrive as an integral part of IBM,” said Rick Magnuson, Executive Managing Director of GI Partners.
Morgan Stanley and Credit Suisse acted as financial advisors to SoftLayer. DH Capital served as the financial advisor to SoftLayer’s management team.
© 2013 PEPD • Private Equity’s Leading News Magazine • 7-10-13