Terremark
Data storage company
title: "Terremark" type: doc version: 1 created: 2026-02-28 author: "Wikipedia contributors" status: active scope: public tags: ["companies-based-in-miami", "verizon", "1980-establishments-in-florida", "telecommunications-companies-established-in-1980", "telecommunications-companies-of-the-united-states", "telecommunications-infrastructure", "2011-mergers-and-acquisitions"] description: "Data storage company" topic_path: "engineering" source: "https://en.wikipedia.org/wiki/Terremark" license: "CC BY-SA 4.0" wikipedia_page_id: 0 wikipedia_revision_id: 0
::summary Data storage company ::
::data[format=table title="Infobox company"]
| Field | Value |
|---|---|
| name | Terremark Worldwide, Inc. |
| logo | Terremark logo.svg |
| type | Subsidiary |
| foundation | |
| founder | Manny Medina |
| location_city | Miami |
| location_country | USA |
| services | information technology services |
| revenue | $ 292 M (2010) |
| net_income | $ -31 M (2010) |
| num_employees | 859 total |
| 260 in South Florida | |
| parent | Equinix, Inc. |
| homepage | |
| :: |
| name = Terremark Worldwide, Inc. | logo = Terremark logo.svg | type = Subsidiary | foundation = | founder = Manny Medina | defunct = | location_city = Miami | location_country = USA | location = | locations = | area_served = | key_people = | industry = | products = | services = information technology services | revenue = $ 292 M (2010) | operating_income = | net_income = $ -31 M (2010) | aum = | assets = | equity = | owner = | num_employees = 859 total 260 in South Florida | parent = Equinix, Inc. | divisions = | subsid = | homepage = | footnotes =
Terremark Worldwide, Inc., is a subsidiary of the American technology company IBM. Headquartered in Miami, Florida, the company had data centers in the United States, Europe and Latin America; it offered services which include managed hosting, colocation, disaster recovery, data storage, and cloud computing.
Terremark employed over 750 people at its Miami-Dade County headquarters.{{Cite web |title = Major Employers |publisher = Beacon Council |url = http://www.beaconcouncil.com/web/Content.aspx?Page=majorEmployers |accessdate = 2012-08-20 |url-status = dead |archiveurl = https://web.archive.org/web/20120921102540/http://www.beaconcouncil.com/web/Content.aspx?Page=majorEmployers |archivedate = 2012-09-21
History
In 1980 entrepreneur 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,{{Cite web | title = Long Road From Cuba | website = | publisher = Sramana Mitra | date = 28 October 2009 | url = http://www.sramanamitra.com/2009/10/28/manny-medina-ceo-of-terremark-part-1/ | accessdate = 2011-03-29}} a large data center and Internet exchange point that hosts one of the instances of the K-root of the Domain Name System.
On January 27, 2011, Verizon Communications announced it would buy Terremark Worldwide for $19 a share, in a deal valued at $1.4 billion.{{Cite web | title = Verizon to Buy Terremark for $1.4 Billion | work = The New York Times | date = 2011-01-27 | url = https://dealbook.nytimes.com/2011/01/27/verizon-to-buy-terremark-for-1-4-billion/ | accessdate = 29 March 2011}} Medina received about $83 million from the Verizon acquisition.{{Cite web | title = Verizon to buy Miami-based Terremark | publisher = Miami Herald | date = 29 January 2011 | url = http://www.miamiherald.com/2011/01/27/2038247/verizon-to-buy-miami-based-terremark.html | accessdate = 2011-03-29 | title = Verizon Closes Terremark Deal | website = | publisher = DailyMarkets.Com | date = 12 April 2011 | url = http://www.dailymarkets.com/stock/2011/04/12/verizon-closes-terremark-deal/ | accessdate = 21 August 2012}} Medina left the company at the time of the takeover and Terremark had two presidents in the first year after the acquisition. Currently three high ranking executives are running the business.{{Cite web | title = Verizon's Terremark president resigns, company faces another executive shuffle | website = | publisher = FierceTelecom | date = June 29, 2012 | url = http://www.fiercetelecom.com/story/verizons-terremark-president-resigns-company-faces-another-executive-shuffl/2012-06-29 | accessdate = 2012-08-21}}
In October 2013, Secretary of Health and Human Services (HHS) Kathleen Sebelius revealed that Verizon, the web-hosting provider for HealthCare.gov, was the government contractor responsible for "outages that disrupted the website" when it was initially rolled out.{{cite web | url = https://www.bostonglobe.com/news/nation/2013/10/30/sebelius-apologizes-for-health-site-malfunctions/iMYY8N2JsYSeXO5PcC9x9N/story.html | title = Kathleen Sebelius apologizes for health site's malfunctions | first = Robert |last= Pear | work = The New York Times | publisher = Boston Globe | date= October 31, 2013 | accessdate= 2013-12-06}}{{cite news | url = http://swampland.time.com/2013/10/27/sebelius-to-face-tough-questioning-on-health-law/ | archiveurl= https://web.archive.org/web/20131102152847/http://swampland.time.com/2013/10/27/sebelius-to-face-tough-questioning-on-health-law/ | title = HealthCare.gov Data Center Crashes | first = Ken |last= Thomas | agency= Associated Press | work = Swampland | publisher = Time | date= October 27, 2013 | archivedate = 2013-11-02 | url-status = dead | accessdate= 2013-12-06}} A month later, HHS revealed that it did not renew its contract with Verizon, and instead awarded the contract for hosting HealthCare.gov to Hewlett-Packard.{{cite web | url = http://readwrite.com/2013/11/28/terremark-removed-from-healthcaregov | archive-url = https://web.archive.org/web/20131129232457/http://readwrite.com/2013/11/28/terremark-removed-from-healthcaregov | url-status = usurped | archive-date = November 29, 2013 | title = Terremark Gets Surgically Removed From HealthCare.gov | first = Brian |last= Proffitt | publisher = ReadWrite | date= November 28, 2013 | accessdate= 2013-12-06}}
In Jan 2016, Verizon confirmed the intention to divest its data center portfolio, with Equinix (EQIX) for a consideration of around $3.5 billion.
In May 2017, Verizon confirmed its divestiture of Terremark, selling to IBM.
References
References
- "Equinix buys 29 data centers from Verizon, including NAP of the Americas". Miami Herald.
- "Verizon, IBM reach agreement on cloud services".
- Rich Miller. (May 12, 2009). "A Look Inside the NAP of the Americas". Data Center Knowledge.
- "Euro-IX public resources".
- (29 July 2005). "New Instance of RIPE NCC Operated K-root Server Deployed in Miami, USA". RIPE NCC.
- (2016-12-06). "Why Equinix is Buying Verizon Data Centers for $3.6B".
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