Terremark Worldwide, Inc., is a subsidiary of the American technology company

IBM International Business Machines Corporation (using the trademark IBM), nicknamed Big Blue, is an American Multinational corporation, multinational technology company headquartered in Armonk, New York, and present in over 175 countries. It is ...

. Headquartered in

Miami, Florida Miami is a East Coast of the United States, coastal city in the U.S. state of Florida and the county seat of Miami-Dade County, Florida, Miami-Dade County in South Florida. It is the core of the Miami metropolitan area, which, with a populat ...

, the company had

data center A data center is a building, a dedicated space within a building, or a group of buildings used to house computer systems and associated components, such as telecommunications and storage systems. Since IT operations are crucial for busines ...

s in the United States, Europe and Latin America; it offered services which include managed hosting, colocation,

disaster recovery IT disaster recovery (also, simply disaster recovery (DR)) is the process of maintaining or reestablishing vital infrastructure and systems following a natural or human-induced disaster, such as a storm or battle. DR employs policies, tools, ...

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 con ...

, and

cloud computing Cloud computing is "a paradigm for enabling network access to a scalable and elastic pool of shareable physical or virtual resources with self-service provisioning and administration on-demand," according to International Organization for ...

. 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 coun ...

headquarters.

History

In 1980 entrepreneur

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 (or dot-com boom) was a stock market bubble that ballooned during the late-1990s and peaked on Friday, March 10, 2000. This period of market growth coincided with the widespread adoption of the World Wide Web and the Interne ...

, 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 (called MI1 by Equinix) 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 am ...

, a large

and

Internet exchange point Internet exchange points (IXes or IXPs) are common grounds of Internet Protocol, IP networking, allowing participant Internet service provider, Internet service providers (ISPs) to exchange data destined for their respective networks. IXPs are ...

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 name service that provides a naming system for computers, services, and other resources on the Internet or other Internet Protocol (IP) networks. It associates various information ...

. On January 27, 2011,

Verizon Communications Verizon Communications Inc. ( ), is an American telecommunications company headquartered in New York City. It is the world's second-largest telecommunications company by revenue and its mobile network is the largest wireless carrier in the ...

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 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, Sebelius was instrumenta ...

revealed that Verizon, 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 (ACA), informally referred to as "Obamacare", which currently serves the residents of the U. ...

, 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 Verizon, and instead awarded the contract for hosting HealthCare.gov to

Hewlett-Packard The Hewlett-Packard Company, commonly shortened to Hewlett-Packard ( ) or HP, was an American multinational information technology company. It was founded by Bill Hewlett and David Packard in 1939 in a one-car garage in Palo Alto, California ...

. In Jan 2016, Verizon confirmed the intention to divest its data center portfolio, with

Equinix Equinix Inc. is an American multinational company headquartered in Redwood City, California. It specializes in internet connectivity and colocation centres, also referred to as carrier hotels. The company converted to a real estate investment t ...

(EQIX) for a consideration of around $3.5 billion. In May 2017, Verizon confirmed its divestiture of Terremark, selling to

References

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