Quebec, Canada - (The
Hosting News) - May 4, 2007 - Web hosting services
company, iWeb, has obtained financing from the Bank of
Montreal (BMO), over and above funds previously
announced, in the amount of $1,000,000.
The
additional amount will go toward purchasing server
hardware to provide iWeb's clients with dedicated server
services, one of iWeb's niche market that is enjoying
substantial growth. It may also be used to acquire other
computer equipment for the company's two data centers.
As things now stand, these funds will allow for
acquisitions beyond the financial year ended September
30, 2007 and through the first quarter of 2008. The
additional debt will take the form of a 36-month term
credit of $1,000,000, at a rate of prime plus 2.5
%.
Martin Leclair, Co-founder and Chief Operating
Officer of iWeb remarked, ''After financing the
expansion of our data centers, it was time to fund the
purchase of servers to be installed, for the most part,
in phase two of the iWeb-CL facility. It's mainly by
leasing out this hardware that the company will be able
to maximize returns on its investment.''
Founded
in 1996, iWeb offers a full line of advanced web hosting
services either through shared hosting, dedicated
servers or colocation in its own data centers featuring
25,000 square foot of floor space and the latest
technological equipments. iWeb provides services in
English, French and Spanish to clients in more than 140
countries. |