Indy-based infotech firm LightBound acquired by Dallas company

Indianapolis-based LightBound LLC, a data center and information technology services company, has been acquired by Dallas-based DataBank Ltd., the firms announced Monday.

DataBank officials declined to disclose terms of the deal, but said they would maintain LightBound’s local facilities on downtown's southwest side and continue to invest in the market.

Founded in 1994, LightBound operates two data centers located in the Indy Telecom Center, situated west of the intersection of Kentucky Avenue and Henry Street. It reported having 55 employees in 2017, and said that it expected to generate $30 million in revenue that year. Its headcount currently is about 50.

It provides internet, telecommunications, networking and cloud services to corporate and government clients. It also offers co-location services, leasing space for clients' servers and other computing hardware.

With the acquisition of LightBound, DataBank will operate 17 data centers in nine U.S. markets: Dallas, Minneapolis, Kansas City, Cleveland, Pittsburgh, Salt Lake City, Baltimore, Atlanta and Indianapolis.

“We are excited about expanding our presence to the Indianapolis market,” DataBank CEO Raul K. Martynek said in a statement. “LightBound has built a fantastic customer service reputation in the region as a trusted infrastructure provider. We look forward to combining LightBound's strength in co-location, connectivity and managed services with DataBank's broad product offering and national footprint.”    

“Joining DataBank is an outstanding opportunity for LightBound, its employees and customers,” LightBound CEO Jack Carr said in a statement. “DataBank's customer-centric approach is the reason we choose to combine with their team and be able to expand our offering and geographic footprint.”  

Carr will continue with DataBank and lead efforts to expand the customer base and data center portfolio in the Indianapolis market.

In February 2017, LightBound announced plans for a major expansion that would begin in mid-2018, essentially doubling its footprint. A DataBank spokeswoman said Monday the company had no comment on the status of the expansion plans.

LightBound has a naming rights deal for a courtside club in Bankers Life Fieldhouse.

Cowen and Company LLC served as exclusive financial adviser to LightBound for the acquisition. Barnes & Thornburg LLP acted as legal advisor. Jones Day acted as lead merger-and-acquisition counsel for Databank, and Ernest and Young LLP served as accounting adviser.