ViaWest Secures $31 Million in Debt Financing

June 22, 2006 (PRLEAP.COM) Technology News
Denver, Colo. June 22, 2006 – ViaWest, a provider of dependable colocation and managed hosting solutions, today announced it has secured $31 Million in debt financing from a leading New York financial institution.

“ViaWest consistently shows record financial growth and is on target to continue strong top line and earnings growth, and close a solid second quarter,” said Mike Kzra, senior vice president of finance, ViaWest. “Securing this level of financing is a show of market confidence not only in our management team but in our ability to execute against our strategic growth plan.”

Of the $31 Million secured, ViaWest will use $13 Million to repay existing debt and fund the immediate acquisition of Fortix, a Portland Oregon-based managed service provider. The acquisition of Fortix allows ViaWest to enter a third major market with a Tier 1 data center and significantly increase its leadership position.

The remaining $18 Million is earmarked for additional expansion and acquisition opportunities that strategically align with ViaWest’s business in its three existing geographic markets or helping the company expand into yet a fourth market.

“ViaWest has successfully completed 16 acquisitions since 1999,” said Roy Dimoff, chairman and CEO, ViaWest. “We are confident in our expansion plans including identifying additional, strategic acquisition targets similar to Fortix that will allow us to enter additional major markets and expand our footprint across the U.S.”

About ViaWest
ViaWest provides a unique set of colocation, managed hosting solutions and comprehensive services to mid-sized businesses. Headquartered in Denver, Colorado, with additional Tier 1 data centers in Utah and Oregon, ViaWest offers broad and deep expertise to furnish its customers with leading technology infrastructure solutions and the critical resources to support their unique business needs. Partnering with ViaWest allows businesses to focus on their core competencies enabling them to increase profitability and expand their business. ViaWest currently serves thousands of customers nationwide including Frontier Airlines, the Denver Broncos, Exclusive Resorts and Chipotle. For more information, please visit www.viawest.net or call 1-877-448-9378.