Business Services Industry
Dell, Global Crossing Invest in Massachusetts Information-Storage Firm.(Knight Ridder/Tribune Business News)
Knight Ridder/Tribune Business News, January, 2000 by Rosenberg, Ronald
Jan. 27--Storage Networks Inc., an 18-month-old supplier of information-storage services to corporations will announce today a $103 million investment led by Dell Computer Corp. and Global Crossing Ltd.
The fast-growing Waltham company, which early last year had 10 employees and now has 350, plans to double its work force in the next 12 months, according to Peter Bell, company cofounder and chief executive. He said the new funds, combined with earlier venture-capital financings, brings to $205 million the sum that Storage Networks has raised since its inception in August 1998.
Storage Networks operates 14 company-owned information-storage centers around the country in addition to its Waltham headquarters. The new funds will enable the company to expand...
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