IWeb Group Inc., and the Business Development Bank of Canada (BDC) have agreed that iWeb will be awarded a new $4.5 million loan in addition to a debt consolidation with easier terms.
This additional funding will be used to acquire new equipments and complete the second development phase of iWeb's second data center located in St-L├®onard. This new development, "Phase 2, of the iWEB-CL datac enter is the most extensive and is set to be completed in April 2007. This phase includes extending the building, significantly upgrading electrical power supply and investing in equipment that will allow the company to raise to 4,000 the number of dedicated servers it can host in the St-Leonard facility. The facility will also shelter iWeb's new network operation center.
"Completing this second phase of the iWEB-CL infrastructures is essential if we want to maintain our growth. It will provide us with a stable and expandable infrastructure that can be upgraded gradually to accommodate up to 12,000 dedicated servers. Less important upgrades will be planned for the next two years in order to upgrade the capacity according to our needs, says Martin Leclair, chief operating officer of iWeb.
"As well as making this significant new funding available to us, the Business Development Bank of Canada is enabling us to benefit from more favourable terms on our existing fundings. We greatly appreciate this mark of confidence, added Eric Chouinard, president and CEO of iWeb.