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AIT Going Public in 2006, CEO Says.
2005-02-21, HostMan.biz Web hosting provider AIT Technologies (ait.com) is preparing to go public in 2006, according to reports in the Triangle Tech Journal. As part of its IPO plans, the company reportedly just closed a round of financing that netted $4 million. Clarence Briggs, CEO of AIT, said in reports that the money will be used to streamline operations, extend certain offerings and hire additional staff. The company currently has approximately 140 employees and generated a reported $30 million in revenue in 2004. Briggs said the company would engage in another round or two of debt financing and then take on an equity partner before going public. AIT, launched in 1996, is based in North Carolina. The company operates a 93,000 square-foot data center facility in Fayetteville, North Carolina that is well regarded for its extremely high levels of physical security. AIT has launched a number of aggressive intiatives in recent months. In January, it launched a "test drive" program, offering 30-day Web hosting trials. Back in December, the company began offering free domain registration with all its hosting accounts. |
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