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AIT Technologies Acquires CCTnet |
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Advanced Internet Technologies has bought the web design and web hosting portion of Core Computer Technologies in a transaction that also includes a partnership between the two Fayetteville companies. “This deal has dual advantages in helping AIT to grow while providing Core with an opportunity to expand its reach beyond Cumberland County,” said Kirk deViere, AIT’s Chief Operations Officer. Under terms of the agreement, AIT will add all hosting and design customers currently being serviced by Core’s subsidiary, CCTnet.
Core Computer Technologies will continue with its primary business of computer repair, maintenance, and upgrading. Core will also offer high-end gaming PC’s through AIT and AIT Acclaim. “This lets us focus on what we do best while also providing a growth opportunity,” said Core’s CEO Franco Webb. Gaming computers are more powerful versions of the typical desktop, with enhancements designed to accommodate the graphics of sophisticated video games. “The gaming industry is fast-growing but it’s also specialized,” said deViere. “Core has experience in that arena so it makes sense to partner with them; they bring us new capability and we help a local company reach new markets.”
The acquisition continues AIT’s strategy of buying local and regional companies, and combining them with the company’s global customer base. “We expect to close other purchases this year, but this has to be done deliberately to avoid the risk of buying another company’s problems along with its customers,” said AIT Chief Executive Officer Clarence Briggs. The hosting industry has witnessed several large-scale mergers and acquisitions over the past year and a half, and that trend is expected to continue in 2004.
Founded in 1996, AIT, Inc. provides web hosting and e-commerce services to more than 190,000 domains in 107 countries. AIT is the only hosting company listed on both the Inc 500 and Deloitte & Touche Fast 500. AIT also offers data storage, software development, IP telephony, security services, application hosting, and a technical education center. The company has a 25,000 square foot data center and provides live, 24/7 toll-free technical and billing support.
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