Terremark finds newfound growth by being a part of Verizon

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

On the Hot Seat: Terremark's Bailey: CIOs need to rationalize applications when developing cloud strategy

Related articles:
Verizon's Terremark lights up new NAP in Amsterdam
Verizon's Bailey: Cloud services will be a $150B market by 2020
Terremark capitalizes on Latin American growth with Brazilian data center expansion

Suggested Articles

AT&T Business announced on Thursday that it's offering a new broadband service for residence locations that features symmetrical speeds of 1-Gig.

It's a long way, literally and figuratively, from Leadville, Colorado to London, but Colt's new CEO, Keri Gilder, has made the transition with aplomb.

Various Indian media outlets are reporting that Microsoft is mulling a $2 billion stake in Jio Platforms.