The Stephens Group, a private equity firm, acquired Bay Area Internet Services. BAIS is a co-location service provider in Santa Clara and has a Tier IV facility for their services. Serving as the sole financial advisor to BAIS was DH Capital. The Stephens Group enlisted the vXchnge management team as a partner for the transaction. Financial details of the acquisition package were not revealed.
"This is an excellent opportunity for our customers and employees. I am grateful to the DH Capital team for the guidance they provided us every step of the way as we negotiated this strategic transaction," ," BIAS Chairman and CEO, Thomas Wye, said.
BAIS provides managed IT, co-location, and high speed internet connection services. It concluded the first stage of its Santa Clara co-location center in 2009. BIAS added a further 83,000 square feet and a supplemental six megawatts of power in 2010. The addition was meant to sustain the high-density demands of a large unnamed client. The Tier IV datacenter was built with environmentally hospitable products and systems. The datacenter facility utilizes the most up-to-date energy efficient technology.
"We are pleased to have assisted BAIS in this exciting transaction. Tom and his team have built a first class data center business and facility," said a partner of DH Capital, Townsend Devereux.
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