Tuesday, May 14, 2013

IO Gets $260M In Financing Effort For Data Center Technology

Phoenix-based datacenter developer IO has a great big chunk of new funding today, to the tune of $260M. According to IO, which develops data center technology, it raised the $260M in financing via a multi-year credit facility. The funding was led by Wells Fargo, and also included Mutual Bank of Omaha, Bank of America, Bank of Montreal, JPMorgan Chase Bank, Royal Bank of Canada, National Bank of Arizona, Goldman Sachs Lending Partners and Morgan Stanley Bank. The firm said the new credit facility will go towards the company's efforts to design, engineer, and deliver its software-defined data center technology. The financing was arranged by Wells Fargo Securities, BMO Capital Markets, J.P. Morgan Securities, Merrill Lynch, Pierce, Fenner & Smith Incorporated and RBC Capital Markets