Intelishift, a US colocation provider, has acquired rival colo firm Data Canopy.
Founded in 2007, Data Canopy offers colocation, connectivity, and cloud offerings from dozens of data centers around the world. It operates out of third-party facilities, including CyrusOne, Equinix, NTT, DC Blox, Digital Realty, and others.
Intelishift offers colocation out of six data centers in the US totaling around 88,000 sq ft (8,175 sqm) and 20MW across Dallas, Texas; Denver, Colorado; Irvine and San Francisco, California; Louisville, Kentucky; and Newark, Delaware.
Terms of the deal weren’t disclosed. The merged entity will operate under the Data Canopy brand.
“The Data Canopy team and their cloud solutions will perfectly complement Intelishift’s offerings, enabling us to accelerate our rapid growth in the industry,” said Kurt Baumann, CEO of Intelishift. “The combined offering of wholesale data center space and hybrid cloud infrastructure will enable us to reach a broader market and more fully support our clients and partners.”
Ryan Barbera, CEO of Data Canopy, added: “Since its inception, the Data Canopy team has dedicated themselves to delivering the highest levels of service to our clients and partners. Intelishift shares in that dedication and together we will be an unstoppable force in the cloud and data center market. I look forward to serving on the executive leadership team of the new entity and helping not only Data Canopy, but also our clients and partners, to attain higher levels of success.”
The acquisition was facilitated by a $50 million investment from private investment firm Metropolitan Partners Group. The companies said the funding also provides additional funding for "further acquisitions and organic growth initiatives."
“We are impressed with the businesses that the teams at both Intelishift and Data Canopy built,” said Richard Lin, Metropolitan’s managing director. “Data Canopy brings an experienced, agile team and a strong track record of selling and implementing data center and hybrid cloud solutions to Intelishift’s infrastructure assets and operational capabilities. The combined business is poised for substantial growth following our investment and the business combination, and we look forward to supporting their continued growth in the industry.”
The two companies have shared DNA. Current Data Canopy CEO Ryan Barbera was CEO of Intelishift from 2010 to 2019. In 2019 Data Canopy acquired Intelishift Technologies’ government assets and clients.
Founded in 2010, Intelishift merged with the Sidus group in 2018. Before then, Sidus (formerly Sidus BioData) had been owned by colocation and managed services company Bytegrid since 2015.
Founded in 2011 by current Element Critical CEO Ken Parent, Bytegrid stirred controversy in 2018 when it was revealed the company – which had been hosting voter registration systems and data for the state of Maryland – was indirectly owned by a Russian oligarch and Putin ally Vladimir Potanin via its investor AltPoint Capital Partners.
Bytegrid was acquired by Lincoln Rackhouse in 2019, with the company taking over three data centers.
