CoreSite’s Open Cloud Exchange® Platform Accelerates Digital Business Success for All

Rhea-AI Summary

CoreSite, a subsidiary of American Tower (NYSE: AMT), has announced enhancements to its Open Cloud Exchange (OCX) platform, aimed at optimizing cloud connectivity and performance. Key service upgrades include automated provisioning in AWS and Microsoft Azure, and enhanced cloud-to-cloud communication through CoreSite’s virtual routers. These improvements address critical digital business needs as demand for secure cloud access rises. CoreSite continues to innovate and plan further service expansions, underscoring its commitment to support diverse customer requirements.

Positive

• Enhanced functionalities in Open Cloud Exchange, improving cloud connectivity for businesses.
• Automated provisioning in AWS and Microsoft Azure, leading to better resource management.
• Strong performance benefits reported by customers, including a 35% reduction in spending for an IT provider.

Negative

• None.

Enterprise, Cloud and Network Providers and Service Integrators Thrive in a Robust, Interconnected Partner Ecosystem

DENVER--(BUSINESS WIRE)-- CoreSite, a leading hybrid IT solutions provider and subsidiary of American Tower Corporation (NYSE: AMT) (“American Tower”), today announced innovative new product enhancements to its software-defined networking platform, the Open Cloud Exchange^® (OCX). The new enhanced network services include automating additional provisioning functionality within AWS and Microsoft^® Azure Cloud and direct cloud-to-cloud communication capabilities on CoreSite’s fully managed virtual routers. This comes at a time when rapid and secure cloud connectivity is paramount for businesses to succeed in today’s digital economy.

The CoreSite Open Cloud Exchange® is software-defined network that provides a single port into our switching platform, enabling private virtual connections to multiple service providers. (Graphic: Business Wire)

OCX Solves Modern Digital Business Challenges

As per a Gartner^® report, “The more the business criticality of the cloud IT increases, the more enterprises will want connectivity to the cloud to provide correspondingly high availability, performance, and privacy and security.” The report further states that “ensuring optimal performance for end-user access to mission-critical workloads is a leading driver for enterprises that shift from internet connections to private/dedicated cloud interconnection services”.¹

CoreSite revolutionized network connectivity over a decade ago with the introduction of the OCX. The leading interconnection platform provides superior connectivity and a robust and interconnected partner ecosystem needed to reach new markets, rapidly scale on-demand, reduce total cost of operation and accelerate IT modernization. Since its debut, CoreSite has continually invested in building out the platform to support modern use cases in the age of digitization. The new and enhanced network services introduce additional automation for the AWS and Microsoft^® Azure Clouds to the OCX ecosystem, with several more leading cloud service and SaaS providers slated to join them over the next few months.

“The Open Cloud Exchange provides our diverse customer base with the fastest and most secure way to interconnect their private infrastructure with public cloud resources – and to interoperate with each other. We make it simple by providing our Service Delivery Platform where customers can instantly scale by turning up or turning down virtual routers in their environment with just a few clicks of their mouse,” said Brian Warren, SVP of Development and Product Management at CoreSite.

The OCX platform serves customers of all types; recent use cases include an IT solutions and managed services provider who was able to cut spending by 35% and enhance system security for its high-profile customers with direct cloud connectivity. A healthcare customer benefited by expanding its disaster recovery and business continuity strategy by adding the OCX to its colocation solution. A recent telecommunications customer leveraged the OCX to easily expand its business operations to the West coast.

“The partnership we have with CoreSite benefits our customers by solving connectivity and performance challenges from behind the scenes,” stated Morgan Henry, Director of Sales at Atlantech Online.

Additional Benefits:

- Rapidly scale and deploy new applications across multiple U.S. markets using inter-market connectivity

- Improve network performance and security with guaranteed private network isolation, throughput and lower latency compared to public internet connections

- Increase speed to market and gain greater control and optionality

- Recoup expensive cloud egress fees and redirect funds and internal resources to other business priorities

“The recent cloud connect enhancements are just the beginning. Our internal product teams have been hard at work innovating the OCX to support future needs. CoreSite customers can expect additional OCX enhancement announcements – including new cloud service and SaaS providers and branch-to-data-center connectivity capabilities – in the coming months,” said Matt Senderhauf, VP of Interconnection Strategy at CoreSite.

Learn more about the Open Cloud Exchange:

• Fox Business Network: Inside the Blueprint, featuring the OCX
• OCX Product Information
• City of Hope Case Study
• Atlantech Case Study
• CoreSite Future-Proofs Digital Business
• Schedule a Demo of the OCX

About CoreSite

CoreSite, an American Tower company (NYSE: AMT), provides hybrid IT solutions that empower enterprises, cloud, network, and IT service providers to monetize and future-proof their digital business. Our highly interconnected data center campuses offer a native digital supply chain featuring direct cloud onramps to enable our customers to build customized hybrid IT infrastructure and accelerate digital transformation. For more than 20 years, CoreSite’s team of technical experts have partnered with customers to optimize operations, elevate customer experience, dynamically scale, and leverage data to gain competitive edge. For more information, visit CoreSite.com and follow us on LinkedIn and Twitter.

Forward-Looking Statements

This press release may contain forward-looking statements within the meaning of the federal securities laws. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. In some cases, you can identify forward-looking statements by the use of forward-looking terminology such as “believes,” “expects,” “may,” “will,” “should,” “seeks,” “approximately,” “intends,” “plans,” “pro forma,” “estimates” or “anticipates” or the negative of these words and phrases or similar words or phrases that are predictions of or indicate future events or trends and that do not relate solely to historical matters. Forward-looking statements involve known and unknown risks, uncertainties, assumptions and contingencies, many of which are beyond CoreSite’s control that may cause actual results to differ significantly from those expressed in any forward-looking statement. All forward-looking statements reflect CoreSite’s good faith beliefs, assumptions and expectations, but they are not guarantees of future performance. Furthermore, CoreSite disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, of new information, data or methods, future events or other changes. For a further discussion of these and other factors that could cause CoreSite’s future results to differ materially from any forward-looking statements, see the section entitled “Risk Factors” in American Tower’s most recent annual report on Form 10-K, and other risks described in documents subsequently filed by American Tower from time to time with the Securities and Exchange Commission.

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¹ Gartner, “Market Trends: Now Is the Time for CSPs to Boost Cloud Connect Investment”, Published 28 October 2021 - ID G00758516, By Analyst(s): Gaspar Valdivia, To Chee Eng

GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally and is used herein with permission. All rights reserved.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220511005101/en/

CoreSite Contact

Megan Ruszkowski

Vice President of Marketing

720-446-2014

Megan.Ruszkowski@CoreSite.com

Source: CoreSite

FAQ

What enhancements were announced for the Open Cloud Exchange by CoreSite?

CoreSite announced enhancements to its Open Cloud Exchange, including automated provisioning for AWS and Microsoft Azure and improved cloud-to-cloud communication.

How does CoreSite's Open Cloud Exchange benefit businesses?

The Open Cloud Exchange provides faster and more secure connections to public cloud resources, enhancing performance and reducing costs.

What company operates CoreSite, and what is its stock symbol?

CoreSite is operated by American Tower Corporation, which trades under the stock symbol AMT.

When did CoreSite announce its new product enhancements?

CoreSite announced its new product enhancements on May 11, 2022.

What impact do the new enhancements have on cloud service providers?

The enhancements help cloud service providers improve performance and security, addressing critical needs for their clients.