Target: Venyu Solutions Inc. (“Venyu”)
Buyer: EATELCORP, LLC (“EATEL”)
Price: Not disclosed
Assets: Venyu is a national provider of data center, managed hosting, cloud, virtualization, and data protection solutions. Venyu has been a pioneer in offsite backup and was one of the first service providers in the country to leverage virtualization for disaster recovery. Founded in 1989 and headquartered in Baton Rouge, Venyu has approximately 75 employees and operates three data center facilities. In 2011, Venyu built a state-of-the-art 10,000 sq. ft. data center within Bossier City’s Cyber Innovation Center. The company will become a wholly owned subsidiary of EATEL and maintain its headquarters, data center locations, existing service offerings, staff and the senior management team.
Closed: August 31, 2013
Comments: EATEL, founded in 1935, is a leading regional telecommunications service provider. EATEL was one of the first companies in the country to build a 100% fiber network to provide customers a broad array of integrated digital services including TV, Internet, and phone. EATEL also owns Sunshine Media, a leading regional yellow pages service provider, and acquired Vision Communications, a triple-play service provider in Lafourche Parish, LA in early 2012.
Charlesmead Advisors, LLC served as exclusive financial advisor to EATEL in this transaction.