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 coastal metropolis and the county seat of Miami-Dade County in South Florida, United States. With a population of 442,241 at th ...

, the company had data centers in the United States, Europe and Latin America; it offered services which include

managed hosting A dedicated hosting service, dedicated server, or managed hosting service is a type of Internet hosting in which the client leases an entire server not shared with anyone else. This is more flexible than shared hosting, as organizations have f ...

, colocation,

disaster recovery Disaster recovery is the process of maintaining or reestablishing vital infrastructure and systems following a natural or human-induced disaster, such as a storm or battle.It employs policies, tools, and procedures. Disaster recovery focuses on ...

data storage Data storage is the recording (storing) of information (data) in a storage medium. Handwriting, phonographic recording, magnetic tape, and optical discs are all examples of storage media. Biological molecules such as RNA and DNA are cons ...

, 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 m ...

. Terremark employed over 750 people at its

Miami-Dade County Miami-Dade County is a county located in the southeastern part of the U.S. state of Florida. The county had a population of 2,701,767 as of the 2020 census, making it the most populous county in Florida and the seventh-most populous county in ...

headquarters.

History

In 1980

Manny Medina Manuel D. "Manny" Medina is "one of South Florida's most successful tech entrepreneurs", noted for selling his Terremark data services company in 2012 to Verizon Communications for $1.4 billion. Early life Medina was born in Matanzas, Cuba, ...

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 Comp ...

, 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 Network Access Point (NAP) of the Americas (also called MI1) is a massive, six-story, 750,000 square foot data center and Internet exchange point in Miami, Florida, operated by Equinix. It is one of the world's largest data centers and among th ...

, 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 A root name server is a name server for the root zone of the Domain Name System (DNS) of the Internet. It directly answers requests for records in the root zone and answers other requests by returning a list of the authoritative name servers fo ...

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 ...

. 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 the ...

, 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