Terremark Worldwide, Inc., is of IBM, a provider of information technology services. Headquartered in

Miami, Florida Miami ( ), officially the City of Miami, known as "the 305", "The Magic City", and "Gateway to the Americas", is a East Coast of the United States, coastal metropolis and the County seat, county seat of Miami-Dade County, Florida, Miami-Dade C ...

, the company had data centers in the United States, Europe and Latin America; it offered services which include managed hosting, colocation, disaster recovery, data storage, and

cloud computing Cloud computing is the on-demand availability of computer system resources, especially data storage ( cloud storage) and computing power, without direct active management by the user. Large clouds often have functions distributed over mu ...

. Terremark employed over 750 people at its Miami-Dade County headquarters.

History

In 1980 Manny Medina incorporated Terremark as a real estate company, constructing office buildings. During the

dot-com era The dot-com bubble (dot-com boom, tech bubble, or the Internet bubble) was a stock market bubble in the late 1990s, a period of massive growth in the use and adoption of the Internet. Between 1995 and its peak in March 2000, the Nasdaq Compo ...

, an increasing number of his buildings were leased to computer data centers; over the years the company morphed into an information technology services company itself starting with the NAP of the Americas, a large data center and

Internet exchange point Internet exchange points (IXes or IXPs) are common grounds of IP networking, allowing participant Internet service providers (ISPs) to exchange data destined for their respective networks. IXPs are generally located at places with preexisting ...

that hosts one of the instances of the K-root of the

Domain Name System The Domain Name System (DNS) is a hierarchical and distributed naming system for computers, services, and other resources in the Internet or other Internet Protocol (IP) networks. It associates various information with domain names assigned t ...

. On January 27, 2011,

Verizon Communications Verizon Communications Inc., commonly known as Verizon, is an American multinational telecommunications conglomerate and a corporate component of the Dow Jones Industrial Average. The company is headquartered at 1095 Avenue of the Americas in ...

announced it would buy Terremark Worldwide for $19 a share, in a deal valued at $1.4 billion. Medina received about $83 million from the Verizon acquisition. Verizon completed its acquisition of Terremark on April 12, 2011. Medina left the company at the time of the takeover and Terremark had two presidents in the first year after the acquisition. Currently three high ranking executives are running the business. In October 2013,

Secretary of Health and Human Services The United States secretary of health and human services is the head of the United States Department of Health and Human Services, and serves as the principal advisor to the president of the United States on all health matters. The secretary is ...

(HHS)

Kathleen Sebelius Kathleen Sebelius (; née Gilligan, born May 15, 1948) is an American businesswoman and politician who served as the 21st United States secretary of Health and Human Services from 2009 until 2014. As Secretary of Health and Human Services, Sebeli ...

revealed that Terremark, the web-hosting provider for

HealthCare.gov HealthCare.gov is a health insurance exchange website operated by the United States federal government under the provisions of the Affordable Care Act or ACA, commonly referred to as “Obamacare”, which currently serves the residents of th ...

, was the government contractor responsible for "outages that disrupted the website" when it was initially rolled out. A month later, HHS revealed that it did not renew its contract with Terremark, and instead awarded the contract for hosting HealthCare.gov to Hewlett-Packard. In Jan 2016, Verizon confirmed the intention to divest its data center portfolio, with Equinix Inc. (EQIX) for a consideration of around $3.5 billion. In May 2017, Verizon confirmed its divestiture of Terremark, selling to IBM.

References

{{Verizon Companies based in Miami Verizon Communications 1980 establishments in Florida Telecommunications companies established in 1980 Telecommunications companies of the United States Telecommunications infrastructure 2011 mergers and acquisitions