BLM Acquisition Corp., a consortium of 32 regional telecom and broadband providers, completed the acquisition of on-demand hybrid cloud hosting services provider Codero Hosting‘s outstanding equity from majority owner Catalyst Investors and other shareholders.
Financial terms of the transaction were not disclosed.
The acquisition includes a significant investment by BLM to accelerate Codero’s next phase of growth, which will include development and launch of new products and services that leverage its existing data center facilities, expansion of sales channel, and growth of the its presence across the U.S. and the world.
Codero Hosting delivers on-demand dedicated, managed, cloud and hybrid hosting infrastructure and solutions to global customers from data centers in Dallas-Fort Worth, Phoenix, and Ashburn, Virginia with plans for expansion in Europe.
Emil Sayegh will remain as president and CEO of Codero, and will become Chairman of the Board of Directors of the new organization. Webster Bank of Hartford, Conn. provided senior financing to BLM in support of the transaction.