POSTED: 11:25 a.m. HST, Sep 06, 2013
LAST UPDATED: 12:06 p.m. HST, Sep 06, 2013
Hawaiian Telcom Inc. has agreed to pay $16 million to buy Honolulu-based SystemMetrics Corp., a data center services provider.
SystemMetrics, which generates annual revenues of approximately $8 million, will become a wholly-owned subsidiary of Hawaiian Telcom Services Co., Hawaiian Telcom officials said.
SystemMetrics was founded in 2011 and provides data center services to more than 400 small- and medium-sized businesses.
"Our goal is to be the preeminent cloud and colocation services provider in the State of Hawaii, and this acquisition significantly advances that objective by increasing the scale and scope of our existing data center business and improving time to market," said Eric Yeaman, Hawaiian Telcom's president and chief executive officer.
Hawaiian Telcom said it expects to complete the transaction by September 30, 2013.