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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.

 

Google has 18 months to change the way it treats user data in Italy in order to meet privacy regulations in the country. The Italian Data Protection Authority (IDPA), based in Rome, told Google that it has to ask users for their prior consent to use personal data.

The post Italy Gives Google 18 Months to Comply with User Privacy Regulations appeared first on Web Hosting Talk News.

 

Google has 18 months to change the way it treats user data in Italy in order to meet privacy regulations in the country. The Italian Data Protection Authority (IDPA), based in Rome, told Google that it has to ask users for their prior consent to use personal data.

The post Italy Gives Google 18 Months to Comply with User Privacy Regulations appeared first on Web Hosting Talk News.

 

Google has 18 months to change the way it treats user data in Italy in order to meet privacy regulations in the country. The Italian Data Protection Authority (IDPA), based in Rome, told Google that it has to ask users for their prior consent to use personal data.

The post Italy Gives Google 18 Months to Comply with User Privacy Regulations appeared first on Web Hosting Talk News.

 

Google has 18 months to change the way it treats user data in Italy in order to meet privacy regulations in the country. The Italian Data Protection Authority (IDPA), based in Rome, told Google that it has to ask users for their prior consent to use personal data.

The post Italy Gives Google 18 Months to Comply with User Privacy Regulations appeared first on Web Hosting Talk News.

 

Google has 18 months to change the way it treats user data in Italy in order to meet privacy regulations in the country. The Italian Data Protection Authority (IDPA), based in Rome, told Google that it has to ask users for their prior consent to use personal data.

The post Italy Gives Google 18 Months to Comply with User Privacy Regulations appeared first on Web Hosting Talk News.

 

(The Hosting News) – A new global malware network rivaling the complexity of the Flame virus has been discovered, Kaspersky Lab noted in a report Monday.

While no evidence links the virus to having been launched by a nation state, it has been active for five years and affects a variety of places across the globe including the Russian Federation, India, Italy, the United States and others.

“The attackers created a multi-functional framework which is capable of applying quick extension of the features that gather intelligence. The system is resistant to C&C server takeover and allows the attacker to recover access to infected machines using alternative communication channels,” commented the security experts in a blog post.

Kaspersky also noted the virus targeted specific entities including networks pertaining to governments, research organizations and diplomatic presences.

The security company, meanwhile, worked with an anonymous source to discover the matter.

Infections discovered were most relevant in Eastern Europe and data vulnerable to the espionage malware included files including extensions such as .txt, .hse, .eml, .csv, .docx, .pdf and a multitude of others.

So if not a state-sponsored virus, who’s responsible? Kaspersky said exploits in the platform were developed by Chinese hackers while malware modules were created by those speaking Russian.

Kaspersky had previously worked to detail other viruses including Flame and Stuxnet – both thought to be launched by western allies such as the U.S. and Israel.

Source: ‘Red October’ Espionage Rivals Complexity of Flame

 

November 30, 2012 — Colocation hosting and Internet backbone provider Hurricane Electric announced on Thursday that it is continuing its European expansion with new PoPs in Milano, Italy, and Vienna, Austria.

Keep on reading: Hurricane Electric Expands European Network with Milano, Vienna Points-of-Presence

 

(WEB HOST INDUSTRY REVIEW) – European network operator Interoute (www.interoute.com) announced on Monday that it has installed a fiber-based connection between UK data center operator TelecityGroup’s (www.telecitygroup.com) two data centers in Milan.

TelecityGroup says it chose Interoute to provide direct connectivity between its facilities for the resilience and flexibility, as well as the capacity to support its continued data traffic growth in Italy. 

“Our highly connected, premium data centers are positioned at the heart of Italy’s rapidly expanding digital economy,” Luca Beltramino, managing director at TelecityGroup Italy said in a statement. “By partnering with Interoute, which provides high speed broadband with extremely low latency, we are ensuring our customers can enjoy an even wider choice of connectivity options. In particular, the partnership will enable financial institutions located in our facilities with seamless electronic trading and low-latency connectivity to the Milan Stock exchange and the key financial markets across Europe, through one of the most extensive trading platforms existing today.”

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