Terremark

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Terremark Worldwide, Inc.
Type Subsidiary
Founded 1980 (1980)
Founder(s) Manuel D. Medina
Headquarters Miami, USA
Services information technology services
Revenue $ 292 M (2010)
Net income $ -31 M (2010)
Employees 859 total
260 in South Florida
Parent Verizon Communications
Website www.terremark.com

Terremark Worldwide, Inc., a subsidiary of Verizon Communications, is a provider of information technology services. Headquartered in Miami, Florida, the company has data centers in the United States, Europe and Latin America; it offers services which include managed hosting, colocation, disaster recovery, data storage, and cloud computing.

Terremark employs over 350 people at its Miami-Dade County headquarters.[1]

History[edit]

In 1980 Manny Medina incorporated Terremark as a real estate company, constructing office buildings. During the dot-com era, an increasing number of his buildings were leased to computer data centers; over the years the company morphed into an information technology services company itself starting with the NAP of the Americas,[2] a large data center[3] and Internet exchange point[4] that hosts one of the instances of the K-root of the Domain Name System.[5]

On January 27, 2011, Verizon Communications announced it would buy Terremark Worldwide for $19 a share, in a deal valued at $1.4 billion.[6] Medina received about $83 million from the Verizon acquisition.[7] Verizon completed its acquisition of Terremark on April 12, 2011.[8] Medina left the company at the time of the takeover and Terremark has gone through two presidents in one year. Currently three high ranking executives are running the business.[9]

In October 2013, Secretary of Health and Human Services (HHS) Kathleen Sebelius revealed that Terremark, the web-hosting provider for HealthCare.gov, was the government contractor responsible for "outages that disrupted the website" when it was initially rolled out.[10][11] A month later, HHS revealed that it did not renew its contract with Terremark, and instead awarded the contract for hosting HealthCare.gov to Hewlett-Packard.[12]

References[edit]

  1. ^ "Major Employers". Beacon Council. Retrieved 2012-08-20. 
  2. ^ "Long Road From Cuba". Sramana Mitra. 28 October 2009. Retrieved 2011-03-29. 
  3. ^ Rich Miller (May 12, 2009). "A Look Inside the NAP of the Americas". Data Center Knowledge. Retrieved 2010-08-20. 
  4. ^ "Euro-IX public resources". Retrieved 2013. 
  5. ^ "New Instance of RIPE NCC Operated K-root Server Deployed in Miami, USA". RIPE NCC. 29 July 2005. Retrieved 2010-08-20. 
  6. ^ "Verizon to Buy Terremark for $1.4 Billion". The New York Times. 2011-01-27. Retrieved 29 March 2011. 
  7. ^ "Verizon to buy Miami-based Terremark". Miami Herald. 29 January 2011. Archived from the original on 29 January 2011. Retrieved 2011-03-29. 
  8. ^ "Verizon Closes Terremark Deal". DailyMarkets.Com. 12 April 2011. Retrieved 21 August 2012. 
  9. ^ "Verizon's Terremark president resigns, company faces another executive shuffle". FierceTelecom. June 29, 2012. Retrieved 2012-08-21. 
  10. ^ Pear, Robert (October 31, 2013). "Kathleen Sebelius apologizes for health site’s malfunctions". The New York Times. Boston Globe. Retrieved 2013-12-06. 
  11. ^ Thomas, Ken (October 27, 2013). "HealthCare.gov Data Center Crashes". Swampland (Time). Associated Press. Archived from the original on 2013-11-02. Retrieved 2013-12-06. 
  12. ^ Proffitt, Brian (November 28, 2013). "Terremark Gets Surgically Removed From HealthCare.gov". ReadWrite. Retrieved 2013-12-06.