| Founded | 1980 |
|---|---|
| Founder(s) | Manuel D. Medina |
| Headquarters | One Biscayne Tower 2 South Biscayne Blvd,Suite 2800 Miami,FL 33131 |
| Services | information technology services |
| Revenue | $ 292 M (2010) |
| Net income | $ -31 M (2010) |
| Employees | 859 total 260 in South Florida |
| Parent | Verizon Communications |
| Website | terremark.com/default.aspx |
Terremark is a provider of information technology services. With data centers in the United States, Europe and Latin America and access to massive and diverse network connectivity, Terremark Worldwide, Inc.(Terremark) delivers customers services which include managed hosting, colocation, disaster recovery, security, data storage and cloud computing services.
Terremark is a major telecommunication firm in Miami-Dade county with over 260 local employees.[1] It has a market cap of $1.2 billion and is listed on NASDAQ with the symbol: TMRK.[2]
In 1980 Manny Medina incorporated Terremark as a real estate company constructing office buildings. During the dot com era more and more of his buildings were computer data centers and the company morphed into an information technology services company itself with the NAP of the Americas.[3] Terremark's flagship facility, the NAP of the Americas in downtown Miami, is one of the most significant telecommunications projects in the world. The facility was the first purpose-built, carrier-neutral network access point (NAP) and is the only facility of its kind specifically designed to link Latin America with the rest of the world. The building is a 750,000 square foot, purpose-built datacenter. The equipment floors are 32 feet above sea level. The building is designed to withstand a Category 5 hurricane with approximately 19 million pounds of concrete roof ballast. It has 7 inch thick steel reinforced concrete exterior panels.[4] NAP of the Americas carries 95% of the data traffic between North and South America.[5]
Verizon Communications on January 27, 2011 announced it would buy Terremark Worldwide for $19 a share, in a deal valued at $1.4 billion. The deal for Verizon is a play on the rapid growth in cloud computing, an area where the company has been lagging behind competitors like AT&T.[6] Terremark will now become a wholly owned subsidiary under Verizon, keeping its name, its employees and headquarters in Miami. Terremark now operates 13 data centers throughout the world. Medina will receive about $83 million out of the Verizon deal from his 4.4 million shares, almost 7 percent of the company.[7] On May 10 2011 Manny Medina received the Jay Malina Award from the Beacon Council. They stated that Terremark was Miami's leading force in the technology industry.[8]