Myrient Engages Stanford Keene as Investment Banker

March 7, 2002 -- (WEB HOST INDUSTRY REVIEW) -- Myrient (myrient.net), an outsourced IT solutions provider, announced on Thursday that it has engaged technology consulting firm Stanford Keene, Inc. (stanfordkeene.com) of Charlotte North Carolina to provide investment banking services and to assist with future North American acquisition activity.

Myrient specializes in providing completely outsourced IT and managed services solutions for its clients. The company’s services include managed virtual private networking, online storage, disaster recovery, advanced Web hosting and intranet hosting solutions and managed security solutions.

According to the agreement, Stanford Keene will raise up to $30 million in funding for the purposes of debt restructuring, expanding Myrient’s sales, marketing and distribution channels, and to assist in the acquisition of revenue generating assets and companies.

“We are ready to take full advantage of the economies of scale that our products and services offer", says Bryan L. Turbow, President and Chief Technology Officer, Myrient. "By engaging Stanford Keene, we can realize the benefits of these innovations through the expansion of our market share and increased profitability."

Myrient says its solutions are designed with scalability and enhanced manageability in mind, virtually eliminating the need for customers to focus on designing, deploying, implementing or maintaining their IT resources.

According to the company, based on statistics supplied by research organizations like the Gartner Group, and the Cahners InStat Group, the future holds significant growth for the American IT outsourcing market, including those for VPNs, Web hosting and managed storage.