Telephone and Data Systems, Inc., acquires TEAM Companies
December 15, 2010
TDS builds on previous acquisition to expand growing portfolio of hosted and managed services
MADISON, Wis. / CEDAR FALLS, Iowa (Dec. 15, 2010) - Telephone and Data Systems, Inc., (NYSE: TDS, TDS.S) parent company to TDS Telecommunications Corp. (TDS®) today announced it has acquired TEAM Technologies, LLC (TEAM), one of the Upper Midwest’s largest privately owned data center services providers, for a purchase price of $47 million based on annual revenues of $10 million for 12 months ending Sept. 30, 2010. TDS Telecommunications Corp., headquartered in Madison, Wis. will have direct oversight and management responsibility for the acquisition.
Operating out of three state-of-the-art data centers in Iowa and Wisconsin, TEAM provides a wide range of information technology solutions, such as colocation, disaster recovery, and data security services to commercial customers. TDS Telecommunications Corp. markets communications services, including complementary data transport services, to business and residential customers, in thirty states.
TEAM was recently named as one of the fastest-growing companies in the U.S. by Inc. Magazine for the third year in a row. "It's clear this acquisition provides a great opportunity for both companies," said Dave Wittwer, president and CEO for TDS Telecommunications Corp. "TEAM’s expertise in power and cooling delivery, physical security and incident response, combined with TDS’ networking expertise and transport capabilities, position us well for expanded growth in this dynamic marketplace."
The acquisition of TEAM adds three SAS 70 Type II certified facilities. They are located in Madison, Wis., and Cedar Falls and Des Moines, Iowa. Their current 20,000 square feet of space, and their expansion capabilities, add to TDS’ growing portfolio of data centers in the Upper Midwest. With these assets, TDS Telecommunications Corp. along with its affiliates TEAM and VISI, are able to provide colocation, hosting, and emerging cloud solutions to companies of all sizes. With the financial strength of Telephone and Data Systems, Inc., a Fortune 500® company, TDS Telecommunications Corp. and TEAM are poised to further invest in evolving services that customers are demanding.
Dave Wittwer of TDS Telecommunications Corp. concludes, "As more companies strive to manage massive amounts of mission critical data, network applications, security services, and risk, partnering with experts in IT and communications infrastructure, such as TEAM and TDS, will be an essential element of success in today’s data-centric marketplace."
Editor's Note: TDS acquired VISI Incorporated, Minnesota’s largest locally-owned data center services and managed hosting provider, in March, 2010.
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