SoftLayer And The Planet In Discussions To Merge [08/05/2010]
Date: Thursday, August 5, 2010 (08/05/2010)
Start time (GMT+00:00): 02:00 AM
End time (GMT+00:00): 02:05 AM
Services affected: N/A
Duration: 5 minutes
Greetings again, from all of us at SoftLayer.
Once more, I have some exciting news to share with you.
It's been a busy time for us with the creation of our new capital structure, through which our management team and GI Partners has acquired all equity in the company.
For those who are not aware, GI also owns a large stake in The Planet, and I now have the pleasure of telling you that we are in discussions to merge The Planet with SoftLayer. The goal is for the transaction to be complete in the fourth quarter of this year.
I know you have a lot of questions. To be perfectly honest, we are at the beginning of this and don't have all the answers. Teams at both companies have just begun discussing how to integrate our organizations, and their work will yield the details we don't yet know.
For customers, nothing is changing in the near term. Both companies still operate independently, and your products, services, support, and contacts are the same today as they were yesterday. For now, each company continues to be led by its current management team. Pending completion of the merger, I will have the privilege of becoming CEO of the merged company.
As I hope you have seen in recent days, we will provide as much information as possible as our discussions with The Planet progress. But for now, I want to share some of the most important information: the reason why.
SoftLayer and The Planet have a lot in common: solid customer bases, broad product and service lines, a high level of commitment to the cloud, and more. We also have different strengths - The Planet provides different services, such as collocation, on a large scale, and SoftLayer leverages automation expertise to deliver innovative solutions. Together, we can provide customers greater value through a wider continuum of services and the most scalable, automated, and cost-effective global infrastructure.
On a very personal note, there is nothing in my life I'm more proud of than SoftLayer. We might be all about automation, but my friends and I have built this company, quite literally, by hand. It's our life, not just our livelihoods. And we've been in this industry quite a while and have seen a lot of changes. We wouldn't pursue this opportunity if we had anything but confidence in its success and a clear vision for bringing its advantages to customers and stakeholders. If you have any questions or concerns, I invite you to talk to your individual SoftLayer contact or directly to George Karidis, our Chief Strategy Officer, at [email protected]
Three bars for life,