San Diego Business Journal

RedIT Receives $72M Investment in Common Stock

Thursday, August 22, 2013

RedIT, a San Diego based IT services provider, said it obtained a $72 million investment in its common stock from two entities, Cartesian Capital Group and Digital Reality Trust.

The funds will allow redIT to accelerate its twin priorities of increasing its physical infrastructure and strengthening its services and operational capabilities. In particular, the funds will be used to expand the company’s data center operations throughout Mexico and southwestern U.S., the company said.

The new partnership means redIT will have all the resources to expand its services to clients including providing them with the expertise behind Digital Reality’s data centers as well as continuing to expand redIT’s Data Park outside Mexico City, and developing new data centers in other Mexican cities, said Murray Case, redIT’s CEO.

— SDBJ Staff Report