Manulife Investment Management has completed the acquisition of a controlling interest in Serverfarm, a provider of data center development, operation, and management. This transaction, together with ongoing financial support from Manulife Investment Management and NantCapital (NANT), will enable Serverfarm to accelerate the expansion of its data center portfolio and enhance the market reach of InCommand, its leading cloud-based DMaaS (Data Center Management as a Service) platform.
The company is set on growing its base of data centers across multiple markets. Serverfarm currently operates a portfolio of eight data centers across North America, Europe and Israel that aggregates more than 1.5 million gross square feet and 125MW of IT capacity, and it has secured additional land for future data center developments.
With over 750 sites already managed by InCommand DMaaS, several large enterprises, cloud service providers and commercial data center providers use Serverfarm to manage their distributed data center assets. As part of the transaction, Avner Papouchado will continue as CEO and both NANT and Mr. Papouchado will retain a significant ownership interest in Serverfarm.
"With Manulife Investment Management's support, we will accelerate Serverfarm's growth strategy in existing and new markets," said Avner Papouchado, founder and CEO of Serverfarm. "It is also an investment in Serverfarm's continuing commitment to customer growth through partnership by meeting their data center objectives across capex, opex efficiency and sustainability."
Patrick Soon-Shiong, founder and Chairman of NANT, agreed and added that dedicating more capital to Serverfarm data centers and building fiber infrastructure is central to building a cloud-based infrastructure. "The strategic partnership with Manulife Investment Management adds to the potential of the data centers at Serverfarm to expand its global role in addressing the expanding infrastructure needs of cloud computing and AI in this digital era,” he said.
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Sean Buckley
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