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Peak 10 Acquires South Florida-based 1Vault Networks

Peak 10 Logo
December 22, 2009

Moving into its third major Florida market, Peak 10 blankets businesses statewide with its award-winning services and support

CHARLOTTE, N.C. and FORT LAUDERDALE, Fla. (Dec. 22, 2009) – Peak 10 Inc., a managed services company with world-class data centers, today announced its acquisition of 1Vault Networks, a South Florida-based business continuity and data services provider.  As part of the acquisition, Peak 10 will immediately make significant investments for data center infrastructure enhancements, the managed services portfolio expansions and adding technical expertise to the team. Effective today, 1Vault will operate as Peak 10 South Florida. The acquisition of the 66,000 square foot facility expands Peak 10’s Florida footprint, allowing more organizations to receive expanded, geographically-redundant solutions such as virtualization, disaster recovery and private cloud infrastructure.

“We have built a relationship with 1Vault over the last several years and respect the operating philosophy established by its management team,” said David Jones, the president and CEO of Peak 10.  “With many Peak 10 customers already in South Florida, we sensed an opportunity that was the right fit for both our company and 1Vault.  We look forward to further enhancing and expanding 1Vault’s offerings to meet customer growth and market demand.”

This transaction exemplifies one aspect of Peak 10’s steady and consistent growth strategy of expansion through addition of new markets by acquisition, along with its core market expansions and greenfield market entries. Over the last three years, Peak 10 has expanded into the markets of Cincinnati, Ohio, Richmond, Va. and Atlanta. During the same time period, Peak 10 has invested millions of dollars into its current facilities and added additional enterprise-class raised floor space in its Raleigh and Charlotte, N.C.; Nashville, Tenn.; Tampa and Jacksonville, Fla.; and Louisville, Ky. markets., providing customers with access to the most current and state-of-the-art infrastructure and systems. “With the acquisition of this 22,000-square foot raised floor facility, we now own and operate 17 data centers in ten U.S. metropolitan markets,” added Jones.

“The acquisition of 1Vault by Peak 10 creates significant value for our employees and customers, including customers of Bocacom – a dedicated server brand owned by 1Vault,” said Jim Thomas, the former CEO of 1Vault who will now serve as the vice president and general manager of Peak 10 South Florida.  “It provides us with additional resources and expertise as well as the enhancement and expansion of our disaster recovery business model through Peak 10’s geographic footprint.  Customers are going to see immediate value and opportunities to grow their IT operations especially in the areas of managed services, business continuity and disaster preparedness with Peak 10’s 16 other data centers and private network.”

“There is an increasing demand among South Florida-based organizations for business continuity, disaster preparedness, and managed IT services, and we are excited about Peak 10’s growth options for our IT business community,” said Mike Schweiger, chief financial officer at Zimmerman Advertising and longtime 1Vault customer.

“Peak 10 has a highly-regarded reputation due to its continued investments in each of its markets and we are thrilled about what the company brings to South Florida,” added Randy Smith, the chairman and chief technology officer of Omnicomm Systems and longtime 1Vault customer.

Peak 10’s continued success in Florida is evident by its recent recognition as one of the Best Companies to Work For by Florida Trend magazine. In addition, Peak 10 has been nationally acknowledged as a finalist for a Stevie Award in the Sales and Customer Service category.

“We continue to bring our disciplined business model to new markets like South Florida, which enhances our footprint and service delivery capabilities in our existing markets,” said Jeff Spalding, the executive vice president of market operations at Peak 10.  “As we continue to expand our scale, we focus on maintaining our core value proposition – strong local market presence and exceptional customer service.”

“This acquisition is great news for both 1Vault and Peak 10,” said Bob Swindell, interim president and CEO of The Greater Fort Lauderdale/Broward Economic Development Alliance. “Our organization has worked with Jim Thomas and his team for several years now and is excited about their growth and continuing commitment to Broward County.”

Peak 10’s managed IT and data center services improve performance, reliability, lower costs and maximize internal resources for customers while keeping their valuable information technology assets close to the business. The company combines its secure, private network and enterprise-class data centers with world-class engineering and support to serve market-leading companies nationwide. As a managed services leader, Peak 10 offers a wide range of technology services including virtualization, managed hosting, and cloud-based services in a cost-efficient and reliable platform for its customers. The company owns and operates data centers in ten key markets that include Cincinnati, Ohio; Atlanta, Ga.; Raleigh and Charlotte, N.C.; Tampa, Jacksonville and Fort Lauderdale, Fla.; Nashville, Tenn.; Louisville, Ky.; and Richmond, Va.

About Peak 10 Inc.

Peak 10 is managed services company with world-class data centers. It delivers scalable, economical and reliable solutions for hosting and managing complex information technology infrastructure.  The company’s expert team embraces the industry’s evolving technologies by adopting and tailoring solutions such as virtualization and cloud-based services as part of its robust managed services offering. Its strong customer focus, financial stability, geographic diversity and technical strength attracts market-leading companies such as LendingTree, Global Knowledge, Pergo, Healthways, Churchill Downs and The Fresh Market. Peak 10 is SAS70 Type II compliant and helps companies meet the requirements of various regulatory compliance acts such as Sarbanes-Oxley (SOX), HIPAA, PCI and Gramm-Leach-Bliley (GLBA). For more information on data center solutions from Peak 10, visit www.peak10.com.

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About Peak 10

"Our values are the foundation for everything we do at Peak 10, and are ultimately what enable us to earn our customers' business and their trust."
David H. Jones,
Board Member, Peak 10 + ViaWest