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Internap Holding LLC (INAP)
Company typePrivate
Nasdaq: INAP
IndustryIT infrastructure services
Founded1996; 28 years ago (1996)
HeadquartersNorcross, Georgia, United States[1]
Key people
John Scanlon, President and Chief Executive Officer[2]
ProductsHosting, Data Center, Cloud Computing
Revenue$317 million (2018)
Number of employees
100 (approximate)[3]
ASN
Websiteinap.com

Internap Holding LLC, formerly Internap Corporation and operating as INAP, is a company that sells data center and cloud computing services.[3] The company is headquartered in Norcross, Georgia, United States, and has data centers located in North America, EMEA and the Asia-Pacific region. INAP sells its Performance IP, hosting, cloud, colocation and hybrid infrastructure services through Private Network Access Points (P-NAP) in North America, Europe, Asia-Pacific and Australia.[4]

History

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Founded in Seattle, Washington in 1996, the company's initial public offering (IPO) took place in 1999. In 2000, INAP's patented Managed Internet Route Optimizer (MIRO) technology was added to the Smithsonian's permanent technology exhibit.

Peter Aquino was named president and CEO of INAP in September 2016.[5] Previously, he was chairman and CEO, and later executive chairman, of Primus Telecommunications Group, Inc.

In 2011, INAP launched the world's first commercially available OpenStack Cloud Compute service.[6] In June 2011, the INAP Santa Clara data center became the first commercial data center in the U.S. to achieve the Green Building Initiative's Green Globe certification.[7]

Mike Ruffolo was president and CEO from May 2015 until September 2016. He was a member of the company's board of directors. Previously, he was president and CEO of Crossbeam Systems, Inc.[8] The company named Daniel C. Stanzione, non-executive chairman of the board in June 2009; he has been a director since 2004.[9]

On February 28, 2018, Internap acquired SingleHop for $132 million in cash.[10]

On March 16, 2020, Internap Technology Solutions, Inc. and six affiliated companies filed Chapter 11 bankruptcy in the United States District Court for the Southern District of New York.[11] The company emerged from bankruptcy on May 11, 2020.[12]

Less than a month after emerging from bankruptcy, on June 2, INAP announced that it sold its colocation business located at 1301 Fannin St, Houston TX, to Netrality.[13]

On July 1, 2021, INAP sold Ubersmith to Lumine Group for an undisclosed amount.[14] The following month, on August 2, Leaseweb acquired INAP's Canadian data centres, then operating under the iWeb name.[15]

In 2022, INAP continued to sell its assets. On May 9, INAP announced that it sold the assets associated with its network business, including INAP Japan, to Unitas Global.[16] And on September 14, it announced the sale of the majority of the assets associated with the colocation business, consisting of nine sites, to Evocative.[17]

On September 28, 2022, INAPs product "ServerIntellect" was the target of a ransomware attack that affected their multitenant website, database, and email hosting services causing data loss for those services. As a result, INAP discontinued multitenant hosting services.[18][19] INAP removed the original ransomware incident report from their "Operational Transparency" page on October 5, 2022. Techradar published an article speculating that INAP's removal of the original incident report was an attempt to conceal the full effects of the ransomware attack.[20]

On April 27, 2023, it was announced that INAP would be preparing another Chapter 11 filing and give lenders control of the company.[21] On April 28, 2023, INAP filed for Chapter 11 bankruptcy again.[22] A process they completed on August 1, 2023.[23]

On January 24, 2024, INAP rebranded to HorizonIQ.[24]

Acquisitions and growth

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In 2000, INAP acquired CO Space, giving the company its first entry into the datacenter services business, which represents the majority of the company's current revenues. In the same year, INAP also acquired VPNX.com, a managed VPN provider. INAP acquired VitalStream Holdings, a content delivery service provider, in February 2007. In early 2012, INAP announced that it had acquired Voxel Holdings, Inc., a provider of scalable hosting and cloud services for enterprise users. In November 2013, INAP announced the acquisition of iWeb, a hosting and cloud provider based in Montreal, Canada.[25]

References

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  1. ^ "Contact Us". INAP.
  2. ^ "Leadership". INAP.
  3. ^ a b "Internap, Annual Report, 2014" (PDF). shareholder.com. Archived from the original (PDF) on 2015-06-15. Retrieved 2015-06-12.
  4. ^ "Reuters Internap Company Profile". Reuters. Archived from the original on 2009-03-17.
  5. ^ "Internap Announces Leadership Transition to Support Next Stage of Business Evolution".
  6. ^ "Internap launches OpenStack Cloud Compute service".
  7. ^ "Internap Announces Acquisition of Hosting Provider iWeb".
  8. ^ "Internap Names Mike Ruffolo as President and CEO" (Press release). internap.com.
  9. ^ "Internap Leadership Bio". internap.com.[permanent dead link]
  10. ^ INAP Completes Acquisition of SingleHop.
  11. ^ "INAP files for bankruptcy, along with US subsidiaries". Data Center Dynamics. Retrieved May 10, 2020.
  12. ^ "INAP Successfully Completes Financial Restructuring, Strengthens Strategic Position". INAP. 2020-06-16. Retrieved 2022-03-17.
  13. ^ "INAP Closes Sale of Houston Colocation Business to Netrality Data Centers". Netrality Data Centers. Retrieved 2022-12-03.
  14. ^ "Ubersmith Acquired by Lumine Group". ubersmith (Press release). 2021-07-01. Retrieved 2023-06-09.
  15. ^ "Leaseweb Global Acquires iWeb To Build Significant Market Share in Canada". BusinessWire. 2021-08-02. Retrieved 2023-06-09.
  16. ^ Christian, Bruce (2022-05-09). "Unitas Global Acquires INAP's Network Business Assets". ChannelVision Magazine. Retrieved 2022-12-03.
  17. ^ "Evocative Signs Definitive Agreement to Acquire 9 INAP Data Centers". www.businesswire.com. 2022-09-14. Retrieved 2022-12-03.
  18. ^ "Internap suffers ransomware attack - ceases email, database, and website operations. | Web Hosting Talk". www.webhostingtalk.com. Retrieved 2022-12-12.
  19. ^ "INAP Status - Legacy Platform Infrastructure Outage". 2022-10-04. Archived from the original on 2022-10-04. Retrieved 2022-12-12.{{cite web}}: CS1 maint: bot: original URL status unknown (link)
  20. ^ Abigail Opiah (2022-10-06). "Is Internap trying to conceal the full effects of a ransomware attack?". TechRadar. Retrieved 2022-12-12.
  21. ^ "Data Firm Inap Eyes Handing Lenders Control in Second Bankruptcy". Bloomberg. April 27, 2023. Retrieved April 27, 2023.
  22. ^ "Data center company INAP files for bankruptcy for the second time". Bloomberg Law. April 28, 2023. Retrieved April 30, 2023.
  23. ^ "INAP Completes Recapitalization of Stand-Alone Cloud Business". Yahoo! Finance. 2023-08-01. Retrieved 2023-08-09.
  24. ^ "INAP Is Now HorizonIQ". HorizonIQ. Retrieved 2024-05-20.
  25. ^ "Internap Announces Acquisition of Hosting Provider iWeb".
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