Switch and Data, a provider of carrier-neutral interconnection and colocation services, reported two consecutive months of positive net income following its acquisition of PAIX. Switch and Data, which is a privately held firm, has seen a 91% increase in revenues from April 2002 to April 2003 and reports current annualized monthly revenues of $74 million, which is ahead of plan. The company expects positive net income for the full year. Through April, Switch and Data added 53 new customers to its interconnection and colocation facilities bringing its total customer base to 442 and interconnections to more than 7,500 cross connects.
http://www.switchanddata.com/
- In March 2003, Switch and Data Inc. acquired the assets of PAIX.net, a leading Internet peering exchange provider with facilities in Atlanta, Dallas, New York, Palo Alto, Seattle, and Vienna, Virginia. Switch and Data’s acquisition is inclusive of all PAIX sites. Financial terms were not disclosed. Switch and Data also provides neutral interconnection and colocation services in the US.
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PAIX, the Palo Alto Internet Exchange, was originally opened by Digital Equipment Corporation in July 1996. AboveNet acquired PAIX in May 1999 from Digital/Compaq for $75 million. Metromedia Fiber Network agreed to acquire AboveNet Communications in June 1999 in a stock swap valued at about $1.55 billion at the time. AboveNet had co-location facilities in operation in San Jose, California and Vienna, Virginia at the time.