Terremark may have only been bought by Verizon (NYSE: VZ) a mere seven months ago, but already it's seeing the benefits of being part of a larger company as it tripled its size.
When the data center and managed services provider was acquired by the telco in January it was only reporting $400 million in sales, but according to Bill Lowry, Terremark's VP for Cloud Services that figure has risen to $1.4 billion.
During a keynote speech at this week's Cloud Expo event, Lowry attributes the sales increase to two factors: expanding Terremark's own business, and Verizon's placement of services business into Terremark.
As part of this reverse integration process, Verizon moved both its managed security services business--acquired from Cybertrust in 2007--and over 450 of its own professional services employees to Terremark.
Terremark's impact on Verizon's business revenues was clearly seen in Q3 2011 where the telco reported $3.9 billion in total global enterprise revenues, up 2.1 percent over Q3 2010. A big piece of that pie was strategic services including Terremark's cloud, security and IT solutions services, which increased 15.6 percent over the same period in 2010.
For more:
- Seeking Alpha has this article
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