IO Raises $260 Million in Financing, Expands Bank Group
PHOENIX, May 14, 2013 /PRNewswire/ -- IO, the global leader in software-defined data centers, today announced the closing of a new $260,000,000 multi-year credit facility led by Wells Fargo. IO's existing bank group, consisting of Wells Fargo and Mutual Bank of Omaha, has been expanded to include Bank of America, Bank of Montreal, JPMorgan Chase Bank, Royal Bank of Canada, National Bank of Arizona, Goldman Sachs Lending Partners and Morgan Stanley Bank.
"We are pleased to have led the charge in this financing for IO, and we look forward to IO's continued success and growth," said Frank Pizzo, managing director and head of the Loan Syndications and High Yield Debt Capital Markets group at Wells Fargo Securities.
"This new credit facility will help IO to continue to design, engineer and deliver the world's leading software-defined data center technology," said George D. Slessman, IO CEO and Product Architect. "Our IO Intelligent Control® platform solves the data center needs of our customers in an efficient, scalable and cost-effective manner. We are pleased to continue our relationship with Wells Fargo and Mutual of Omaha, and welcome the new members of the bank group to IO."
Wells Fargo Securities, BMO Capital Markets, J.P. Morgan Securities, Merrill Lynch, Pierce, Fenner & Smith Incorporated and RBC Capital Markets served as joint lead arrangers.
IO is the global leader in software-defined data centers. IO has pioneered the next-generation of data center infrastructure technology, which lowers the total cost of data center ownership for enterprises, governments and service providers. IO technology provides an innovative way to deploy, provision and optimize data center capacity anywhere in the world based on the needs of businesses, applications and users.
When delivered as a product, the IO platform offers customers IO.Anywhere® modules, IO.OS® data center operating system software, and services including warranty, training, support, installation and integration. IO.Anywhere modules can be deployed by IO customers within or outside their existing data centers, at a remote location or office, or at a third-party service provider's location.
When delivered as service ("DCaaS"), IO deploys, operates and monitors the IO platform for customers in a facility that is operated by IO or a Powered by IO® partner.
IO, the IO logo, Intelligent Control and all other IO trademarks are owned by IO Data Centers, LLC and its affiliates. © 2013.
This news release contains forward-looking information. Except for historical information contained herein, the statements in this document are forward-looking. Forward-looking statements involve known and unknown risks and uncertainties, which may cause actual results in future periods to differ materially from forecasted results. Those risks include, among others, changes in customer demand for information technology products or services, changes in supplier pricing actions or terms, customer orders, pricing actions by competitors, changes in laws and regulations and general changes in economic conditions.