One Source Networks Buys OuterNet

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Managed services provider One Source Networks (OSN) is buying OuterNet, a fellow cloud and managed services provider it has known for several years.

OSN targets the Fortune 1000 and said the OuterNet deal adds managed services, infrastructure and professional-services expertise to its portfolio. For example, included in the transaction is OuterNet’s 10,000-square-foot data center in Austin, Texas. OSN already operates data centers in Chicago, Dallas, Greensboro, N.C., and Los Angeles. The company said adding OuterNet’s facility to the mix will allow it to expand its business continuity/disaster recovery capabilities, and offer more hosting and storage options.

“We are very excited about what this acquisition will mean for our customers, and the OSN and OuterNet team members,” said Ernest Cunningham, CEO of OSN. “OSN and OuterNet have worked together for the past three years to deliver managed network services to our enterprise clients. The OuterNet team has a deep level of technical expertise and talent, which will be a valuable asset for our customers, and their … approach to enterprise networking meshes perfectly with OSN’s.”

Q Advisors acted as exclusive financial advisor to OSN. Tolarus Capital Advisors LLC, an Austin-based investment banking firm, acted as exclusive financial advisor to OuterNet. The acquisition should be finalized by the end of the year. Financial terms were not disclosed, as both companies are privately held.