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Cervalis Growing Steadily in the New York Metro Region

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Cervalis Growing Steadily in the New York Metro Region Cervalis growing steadily in the New York metro region Analyst: Michael Levy 3 Jun, 2014 With a relatively under-the-radar approach, relying on a respected reputation among a handful of core verticals, Cervalis continues to achieve solid growth. Relying on its rapport with the financial service, healthcare and legal sectors, Cervalis achieved Y/Y growth in the low teens for top- and bottom-line revenue without much marketing effort. The company, however, has reached a point where it wants to secure business beyond those tried-and-true segments. In addition to its new datacenter in Norwalk, Connecticut, Cervalis is preparing a renewed marketing effort to be a louder player in the industry, with the goal of diversifying its new business. The 451 Take Cervalis continues to perform well, and is sharpening its focus on expanding in targeted verticals to diversify its customer base. We respect Cervalis' meticulous approach to redundancy, compliance and disaster recovery, and believe it will do well marketing beyond the New York City area, where it should see uptake from new, less traditional customer verticals, particularly media, content and IT service providers. Work area recovery is a key component to Cervalis' overall value proposition, and we support the company's significant investment in that offering. Facilities update Cervalis enjoys a robust utilization rate at three of its facilities, and has a sizeable capacity to build out at each one as needed. The company's first location, Wappingers Falls, New York, has a second 100,000-square-foot structure that may be converted into datacenter capacity. If Cervalis were to Copyright 2014 - The 451 Group 1 pursue the opportunity, it would build out datacenter space in 10,000-15,000-square-foot increments. In Totowa, New Jersey, there is a building adjacent to the current site that is available, and would essentially double existing capacity. If Cervalis were to pull the trigger, it could have it up and running as soon as 2015. Cervalis' newest datacenter (in Norwalk) carries much build potential. Only 12,500 operational square feet out of a potential 75,000 net square feet is currently built out. The company expects a four-month lead time for rolling out additional phases. Currently, Cervalis does not have plans for additional locations, but would like to introduce geographic diversity beyond the New York City metro area at some point. Services Even though the vast majority of Cervalis' colocation customers leverage some type of additional service, colocation still accounts for the majority of the company's revenue. Managed services and cloud (public, private and hybrid), along with business continuity-disaster recovery (BCDR), make up the balance. Managed network remains the most popular service in Cervalis' lineup, and is the one most colocation clients consume. Dedicated work area recovery seating is key to Cervalis' BCDR value proposition. For work area recovery, Cervalis has one of the most robust offerings in the tri-state region. All of Cervalis' workspace recovery offerings are sold on a dedicated basis. Approximately 30,000 square feet of gross floor space is dedicated to work area recovery at Cervalis' new Norwalk facility. Customers may lease conference rooms or private office suites. Much like the datacenter floor, the work area recovery seating is fed redundant power from three separate substations. Immediately following Superstorm Sandy, Cervalis saw demand for such offerings soar, and then level off for some time. Recently, though, Cervalis has seen demand take off again. The provider believes that many companies were motivated to create and implement new disaster-recovery strategies because of the event, which takes enterprises about one year, explaining the sudden pick up. Competition For pure-play colocation deals, Cervalis runs up against CoreSite, Digital Realty Trust, IO, SunGard, Telehouse America, Telx and Xand. The provider rarely sees Equinix as a competitor, and believes prospects that require access to Equinix's interconnect platform generally know that's where they will end up, and do not seriously consider the hybrid colocation providers. When it comes to managed environments, Cervalis runs up against CenturyLink Technology Services, Datapipe and Copyright 2014 - The 451 Group 2 Rackspace. When it comes to business continuity/work area recovery, SunGard Availability Services is the primary competitor. SWOT Analysis Strengths Weaknesses Cervalis' high-quality facilities and meticulous quality of Although nicely situated throughout the greater service are palpable. The provider hosts an array of New York City area, Cervalis does not have the show-stopping enterprises, serving as a massive vote of inter-regional geographic diversity that many confidence. enterprises require from a provider. Opportunities Threats With no problem securing multiple rounds of capital, Many geographically diverse multi-tenant Cervalis could easily generate funding to expand into datacenter providers with revenue over $50m are new markets. With an out-of-region facility, its investing heavily in the hybrid approach. Some disaster-recovery platform would be even stronger. are further along the development curve. Copyright 2014 - The 451 Group 3 Reproduced by permission of The 451 Group; © 2014. This report was originally published within 451 Research's Daily T1R. For additional information on 451 Research or to apply for trial access, go to: www.451research.com Copyright 2014 - The 451 Group 4.
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