Data Canopy Acquired by Intelishift Following Growth Capital Raise

Acquisition builds on the strengths of each organization to deliver enhanced cloud and colocation services to its clients and partners.

RESTON, Va., June 27, 2023 Intelishift, a data center operator with facilities nationwide, today announced its acquisition of Data Canopy, a worldwide cloud and colocation infrastructure provider. The acquisition will enable Data Canopy and Intelishift to expand their offerings to their respective clients with new data center locations and added cloud services. The merged entity will operate under the Data Canopy brand, ensuring continuity for its partner ecosystem and expanding on recent growth.

The acquisition was facilitated by a $50 million investment from Metropolitan Partners Group, a private investment firm that provides growth capital to non-sponsored businesses across the United States. The investment also provides additional funding for additional acquisitions and organic growth initiatives and represents the latest in Metropolitan's growing number of investments in the data center, cloud and managed services space.

"We are impressed with the businesses that the teams at both Intelishift and Data Canopy built," commented Richard Lin, Metropolitan's Managing Director, who led the transaction. "Data Canopy brings an experienced, agile team and a strong track record of selling and implementing data center and hybrid cloud solutions to Intelishift's infrastructure assets and operational capabilities. The combined business is poised for substantial growth following our investment and the business combination, and we look forward to supporting their continued growth in the industry."

"The Data Canopy team and their cloud solutions will perfectly complement Intelishift's offerings, enabling us to accelerate our rapid growth in the industry," said Kurt Baumann, CEO of Intelishift. "The combined offering of wholesale data center space and hybrid cloud infrastructure will enable us to reach a broader market and more fully support our clients and partners."

"Since its inception, the Data Canopy team has dedicated themselves to delivering the highest levels of service to our clients and partners. Intelishift shares in that dedication and together we will be an unstoppable force in the cloud and data center market," commented Ryan Barbera, CEO of Data Canopy. "I look forward to serving on the executive leadership team of the new entity and helping not only Data Canopy, but also our clients and partners, to attain higher levels of success."

As Data Canopy, the new organization will operate six data center facilities, retaining essential partnerships with data center providers around the world, and offering public cloud, multi-cloud, and private cloud solutions.

About Data Canopy: Data Canopy is a worldwide data center and hybrid infrastructure provider. We reduce the cost and complexity of hybrid and multi-cloud environments by connecting, storing, and securing your physical and virtual infrastructure under one invoice. Custom-fit data center solutions ensure you are getting the infrastructure, network, redundancy, and security that best support your data and business needs now and as you grow. For more information, visit www.datacanopy.com or connect on LinkedIn, Facebook or Instagram.

About Metropolitan Partners Group: Metropolitan Partners Group is a private investment firm that provides growth capital to non-sponsored businesses in the domestic lower middle market space, unconstrained by industry or asset class. We work directly with business owners and management teams to grow their balance sheets and build lasting value with our tailored capital solutions. For more information, visit metpg.com.

Pull Quote

"The combined business is poised for substantial growth following our investment and the business combination, and we look forward to supporting their continued growth in the industry," commented Richard Lin, Metropolitan's Managing Director, who led the transaction.

Media Contact

Jennifer Herson, Data Canopy, 1 7035945200, [email protected], www.datacanopy.com

SOURCE Data Canopy