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Vancouver, British Columbia - April 27 2009 PEER 1 Network Enterprises, Inc., a dedicated and managed hosting company announced today that it has expanded into Europe with the opening of an office in Southampton, UK. The company announced that Dominic Monkhouse will become the new UK managing director.
"We have seen consistent demand from our customers for a hosting facility in Europe," said Fabio Banducci, president and CEO of PEER 1. "Strong demand, favorable exchange rates, falling real estate prices and a UK market growth rate of 25 percent make this an opportune time for PEER 1 to expand its presence in Europe. The office will support more than 500 UK and European-based customers, who currently utilize PEER 1's North American hosting services, and expand quickly to help additional businesses manage their online presence."
PEER 1 has also built its first Internet data center in the UK, which strengthens the company's presence in Europe alongside existing London and Amsterdam network Points-of-Presence (PoPs). The data center will enable PEER 1 and ServerBeach customers to have UK data center space and makes room for an initial 100 secure racks.
"The UK market is responsible for approximately 15 percent of global managed hosting revenue. Over the past year, the UK market has seen growth rates above the 25 percent mark, and even higher for some providers, despite the economic condition," said Antonio Piraino, senior analyst for Tier1 Research.
As identified, Dominic Monkhouse has been named managing director of the new PEER 1 European headquarters. Before coming to PEER 1, Monkhouse served as managing director of IT Labs, where he transformed the company into a fast-growing IT service provider in the UK SMB market. Before his employment at IT Labs, Monkhouse was managing director of Rackspace UK.
Since 1999, PEER 1 has grown to include 16 state-of-the-art data centers in North America and points-of-presence in Europe. The company's headquarters are in Vancouver, Canada and the stock is traded on the TSX under the symbol PIX. For more information visit: www.peer1.com.
