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Pricing its shares above the top end of the range it previously targeted, data center provider Switch raised $513 million in its initial public offering Thursday. Its shares will start trading on the New York Stock Exchange Friday under the ticker symbol SWCH.
The Las Vegas-based data center provider sold its Class A stock at $17 per share (instead of the expected $14 to $16 per share) in what was the second-largest tech IPO so far this year, following Snap’s IPO in March, in which the social networking company raised $3.4 billion. The offering gives Switch a market value of $4.2 billion, according to Reuters.
Switch operates data centers in Las Vegas; outside of Reno, Nevada; and outside of Grand Rapids, Michigan. It’s also building a data center campus in the Atlanta market and has data center joint ventures in Italy and Thailand.
Switch’s premier customers include eBay (its largest) and Amazon, among about 800 others.
eBay and its affiliates accounted for 13 percent of Switch’s 2016 revenue, which was $318.4 million.
The company’s 2013 revenue was $166.8 million, meaning its compound annual growth rate has been 24 percent over the last three years.
Switch reported $31.4 million in net income for 2016 and $73.5 million in 2015. Its 2015 revenue was $265.9 million.

 

(The Hosting News) – Cyan today announced that COMLINK, a Michigan-based hosting and cloud services provider, has selected Cyan’s Blue Planet software-defined network (SDN) system and Z Series family of packet-optical transport platforms to expand its core network and facilitate the opening of a new datacenter in Grand Rapids.

COMLINK operates a 9,000-mile upper Midwest fiber network providing wholesale and business transport services at speeds up to 100Gbps. With the opening of the new datacenter, COMLINK will be in a position to offer a broad array of transport and geographically diverse and redundant hosting services.

According to John Summersett, COMLINK chief operating officer, “We view COMLINK as a software company that happens to operate a large fiber network. As a result, software-defined networking and Blue Planet are critically important for COMLINK and its customers. In addition to reducing our operating costs and facilitating more rapid service turn-up, Blue Planet actually puts us in a position to develop our own apps, thereby giving us a powerful competitive differentiator and a way to add future value to the services we offer to customers.”

COMLINK employs Cyan’s Blue Planet SDN system in order to better orchestrate services over its complex multi-layer network. COMLINK can also use Blue Planet apps, such as Planet View, to afford its customers real-time and historical views into the operation of their services.

Adds Michael Hatfield, Cyan President, “COMLINK is setting the benchmark in terms of what advanced network and data center operators can accomplish by utilizing software as a means to differentiate. The bottom line is that they now can deliver a superior customer experience at lower costs, more rapidly, and with flexibility to evolve into the future.”

COMLINK’s fiber network is centered in Michigan and extends into Ohio, Indiana, Illinois, Wisconsin, and Minnesota. COMLINK’s newest datacenter houses the company’s Datasphere business hosting service and Medisphere medical services division. Anchored by Cyan’s 2.8Tbps Z77 platform, the COMLINK network can deliver wavelength and Ethernet services at speeds up to 100Gbps.

Join us at the Open Network Summit 2013: Cyan will be exhibiting at the Open Networking Summit in Santa Clara, California, April 15-17. Visit us at booth number 407 and learn more about Cyan’s Blue Planet SDN system.

About Cyan

Cyan is a global supplier of software-defined networks (SDNs) for service providers, data center operators, and private networks. Cyan solutions include Blue Planet SDN software, Z-Series multi-layer packet-optical transport platforms, and Cyan PRO comprehensive professional services. With hundreds of deployments around the globe, including some of the largest telecommunication companies in the world, Cyan allows its customers to scale their networks, reduce costs, simplify operations, and accelerate service delivery. For more information, please visithttp://www.cyaninc.com or follow Cyan on Twitter at http://twitter.com/CyanNews.

For Cyan inquiries, please contact:

Joe Cumello
+1 410.227.7487 | joe.cumello(at)cyaninc(dot)com | Twitter: @CyanNews

Merritt Group for Cyan
Melissa Chadwick
+1 571.382.8513 | chadwick(at)merrittgrp(dot)com

About COMLINK

With datacenters that host clients residing in over 100 countries, COMLINK is a leading provider of cloud services, dedicated and virtual private servers, storage, colocation, all connected over a private, protected Ethernet backbone with bandwidth up to 100Gbps. Using our private fiber network and multiple certified datacenters (HIPAA, SAE 16, PCI) strategically located, COMLINK can provide your business with redundant (hot) servers, granular backup and restore capabilities, a true disaster recovery and business continuity plan.

COMLINK’s rapidly expanding fiber optic network is headquartered in Michigan and extends through Ohio, Indiana, Illinois, Wisconsin, and Minnesota. With over 9,000 miles of fiber and metro rings extending throughout the areas major markets. COMLINK’s Network Management Center is manned 24X7 to ensure the security of our network, the reliability of our services, and satisfaction for our clients. COMLINK provides leading edge services such as optical wave, Ethernet, DS1, DS3, and OCx, DSL. COMLINK offers the premier neutral access and local tandem in Michigan. In addition COMLINK offers an array of voice services; PRI, SIP, long distance, conferencing and hosted VoIP.

For more information, please visit http://www.comlink.net or follow COMLINK on
Twitter: @TeamComlink
Facebook: http://www.facebook.com/TeamComlink
LinkedIn: http://www.linkedin.com/company/2702894?trk=NUS_CMPY_TWIT
Google+: https://plus.google.com/117115639945176142009

For COMLINK inquiries, please contact:
Rebecca Girard | 517.742.4115 | rgirard(at)comlink(dot)net or 517.664.1900 | info(at)comlink(dot)net

COMLINK Employs Blue Planet for Datacenter

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