INetU, an Allentown, PA-based complex hosting experts and a global provider of business-centric managed cloud and application hosting, completed a recapitalization transaction in partnership with private equity firm BV Investment Partners.
The investment will make BV the majority shareholder and is made in partnership with INetU’s founder and CEO, Dev Chanchani, who will continue to led and remain a significant shareholder in the company.
Founded in 1997, INetU delivers flexible managed and cloud hosting solutions to businesses globally supporting websites and applications across numerous sectors including E-Commerce, healthcare, financial services, software as a service (SaaS), education and government.
The company, which has domestic and international datacenters, is PCI, SSAE 16/SOC 1, SOC 2/3, ISAE 3402 and Safe Harbor compliant. It also provides HIPAA guidance and assurances.
In conjunction with the funding, Louis Bertocci and Matthew Kinsey, a Managing Director and a Principal at BV, respectively, have joined INetU’s Board of Directors.