(Ping! Zine) – 3Sixty Holdings, LLC, a technology-focused holding company formed by several private equity investors, today announced it has acquired AIS Network Corporation, a leading managed and cloud hosting provider, from founder and president Daniel Lundahl. Long-time Internet executive Kurt Baumann has been appointed chairman of the company, while financial strategist Jay Atkinson will become its chief executive.
Headquartered in Chicago, the 17-year-old AIS Network is recognized as a pioneer in managed hosting technologies. Lundahl will remain president of AIS Network’s midwest operations and will retain a significant equity stake in the company. AIS Network will open a new East Coast sales office in Reston, VA, which is part of the Washington, DC, metro area.
“We are exceptionally proud of AIS Network’s longevity and achievements over the years and we believe 3Sixty Holdings’ relevant experience, institutional support and financial capital will expedite our plans for growth while dramatically enhancing the world class services and products that we provide,” said Lundahl.
The deal, which helps AIS Network expand its infrastructure, support and cloud computing services and sales capabilities, demonstrates continuing interest in the growing managed hosting sector from private equity investors.
“Because nothing irritates us more than low-brow products and bad client service, we were looking to acquire a highly successful company that has integrity, a high-end product and a strong service culture,” said Atkinson.
“AIS Network fits the bill on all these levels. Mr. Lundahl’s approach to client support impressed us immediately. His team treats the customer as No. 1. Unlike so many other managed hosting companies, it’s not about cutting corners in a massive land grab for more customers. Everything AIS Network does for its clients has a personal touch, and our vision is to continue that level of service while promoting world-class innovation.”
The dynamic team of Baumann and Atkinson adds significant breadth of experience to the AIS Network executive team. Baumann’s long career in the international high tech industry includes responsibility for founding the first ISP in Japan and also InterCon Systems—the leading producer of enterprise Internet software for the Macintosh – which PSINet bought in 1995. More recently, with the founding of Kadoo, he became an early player in cloud hosting technologies. Atkinson, a former finalist for Virginia Business “CFO of the Year,” is a successful entrepreneur and financial strategist who has advised companies across various commercial sectors on growth opportunities and strategic repositioning.
Terms of the transaction were not disclosed. This is the first acquisition for 3Sixty, which was founded last year by an elite group of private equity investors. 3Sixty’s strategy is to invest in North American IT infrastructure companies positioned to meet demand for managed hosting, cloud computing, co-location and disaster recovery services.