Verado Sells Integration Business

May 22, 2001 -- Managed hosting provider Verado continued to streamline its business around its data center products, announcing the sale of its Portland-based integration subsidiary Optec, Inc. to an affiliate of JMW Capital Partners, Inc.
Terms of the transaction were not disclosed.
"The sale of Optec and additional recent divestitures of our non-data center business bring us closer to fulfilling our promise to our shareholders and the marketplace to focus on Verado's core business of providing secure, outsourced managed services to its data center customers," said Tom McGrath, president and CEO of Verado.
"We believe that it further enhances our ability to become a leader in the managed hosting and data center market,'' he added.
The announcement follows Verado's news last month of its exit from telephony operations in Anaheim, California, and the sale of its dial-up subscriber base to EarthLink.
Verado purchased Optec, a Web integration services provider, from Enron Communications, Inc. in 1998. Optec employs 67 people.
Denver-based Daniels & Associates, a media and telecommunications mergers and acquisitions specialist, represented Verado on the sale of Optec.
Verado, headquartered in Denver, is a provider of outsourced managed service and data center solutions for businesses. The company currently operates data centers in Denver, Dallas, Houston, Portland, Santa Clara, Irvine, San Diego, and Salt Lake City, totalling more than 240,000 square feet of space.