Last Monday, we reported that VISI had sold to TDS Telecommunications Corp (based in WI), a division of Telephone and Data Systems, Inc. (based in Chicago). At the time, however, there were no details available on the scope or terms of the deal.
Since then, we’ve learned that TDS paid $17.8mm cash for 100% ownership of VISI. Our sources also tell us that VISI, Inc. will retain its name/brand identity, staff, customers and the company’s Minnesota presence. Additionally, the funds will be used to accelerate the expansion of its St. Paul & Eden Prairie Data Centers and (fittingly) potential plays in the telecommunications space.
VISI will be hosting a “Data Center Open House” to celebrate the grand opening of it’s Eden Prairie Data Center on May 21st.