Hawaiian Telcom agrees to buy data center for $16 million
CLOSING THE DAY: Hawaiian Telcom officials and employees participated Friday in the ceremonial ringing of the Nasdaq closing bell. Front row: Hawaiian Telcom board member Bernard Phillips, left; board Chairman Richard Jalkut; President and CEO Eric Yeaman; and David Witt. Back row: Hawaiian Telcom employees Brian Kurlansky, left, and Brian Tanner; and board member Steven Oldham.
Hawaiian Telcom Inc. announced today that it 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 expects to complete the transaction by September 30, 2013.
