MacStadium Secures New IaaS Credit Line from Silicon Valley Bank; Closes Strategic Acquisition of Macminicolo
A multi-million dollar line of credit from Silicon Valley Bank has enabled MacStadium to acquire Macminicolo and continue swift growth.
Apr 06, 2016, 12:10 ET
ATLANTA, April 6, 2016 /PRNewswire/ -- MacStadium, the leading Mac hosting provider, today announced that it has received a multi-million dollar line of credit from Silicon Valley Bank, the bank of the world's most innovative companies and their investors. Silicon Valley Bank has extended the line of credit to MacStadium to promote faster growth—the Atlanta-based company has already more than doubled in size in the past 12 months.
"We're proud of our commitment to quality for our customers and very excited to add a great partner in Silicon Valley Bank," said Greg McGraw, CEO at MacStadium.
MacStadium's innovative and secure Mac hosting solution is used by more than 1,500 SMB and enterprise businesses worldwide with uses like CI/CD testing and iOS app development. Software developers requiring dedicated Apple Mac hardware rely on MacStadium to provide remote access to thousands of Mac servers in a self-service manner to develop, test, and deploy innovative solutions. Some of the software industry's most popular development tools use MacStadium; like Travis CI, who utilizes MacStadium for continuous integration building and testing of Xcode-developed apps in a private cloud of Mac servers.
Concurrent with securing the new line of credit, MacStadium announces the acquisition of Macminicolo utilizing a portion of the credit line. Macminicolo, the oldest and most respected vendor in the commercial Mac hosting industry, has led the way in Mac hosting since the initial release of the Apple Mac mini over a decade ago. With the acquisition, MacStadium is able to reach a greater audience on the west coast, supplementing a recent expansion into Dublin, Ireland in Europe. The authority and software expertise at Macminicolo will complement the enterprise-class network engineering and professional support available at MacStadium.
"The number one reason for our success is the innovation and quality of the people who work at MacStadium," said McGraw. "Joining forces with Macminicolo amplifies MacStadium's commitment to meet every customer's unique Mac hosting needs, both large and small. This new financing relationship with the smart and experienced team from Silicon Valley Bank will enable us to accelerate our growth plans for 2016 both in the U.S. and in our recently-launched Dublin, Ireland operation serving the EU, Middle East, and Africa."
"We're pleased to partner with MacStadium as they mature to their next phase of growth," said Thomas Armstrong, Director of Silicon Valley Bank in Atlanta. "Our primary objective is to provide them with the right financing, connections and global services that they need to move their business forward quickly."
About Silicon Valley Bank
For more than 30 years, Silicon Valley Bank (SVB) has helped innovative companies and their investors move bold ideas forward, fast. SVB provides targeted financial services and expertise through its offices in innovation centers around the world. With commercial, international and private banking services, SVB helps address the unique needs of innovators. Learn more at svb.com.
©2016 SVB Financial Group. All rights reserved. Silicon Valley Bank is the California bank subsidiary of SVB Financial Group. Silicon Valley Bank is a member of FDIC and Federal Reserve System.
About MacStadium
MacStadium is the leading Apple Mac hosting provider focused on supplying dedicated servers and private cloud hosting solutions to software developers around the world. Dedicated Mac servers are coupled with enterprise-class networking and security, plus an expert staff available 24x7 to provide the best remote Mac hosting solution to single developers and enterprises alike from multiple locations in North America and Europe.
Learn more at MacStadium.com.
SOURCE MacStadium