MOD Mission Critical Enhances Hybrid Cloud Offering by Leveraging the Open Cloud Exchange®

Rhea-AI Summary

CoreSite, a subsidiary of American Tower (NYSE: AMT), announced an expansion of its product capabilities through the integration of MOD Mission Critical into its Open Cloud Exchange (OCX). This enhancement aims to better address multicloud and hybrid-cloud demands by offering customers a comprehensive suite of connectivity solutions. The PaaSPort™ platform facilitates simplified service delivery and access to a broad network of service providers, promising improved performance and reduced Total Cost of Ownership (TCO) for enterprises.

Furthermore, the collaboration strengthens MOD's market strategy, enabling them to meet the evolving needs of businesses globally.

Positive

• Integration of MOD into Open Cloud Exchange enhances service offerings.
• Improved performance and security in connectivity solutions.
• Strengthened market strategy for MOD may increase revenue.

Negative

• None.

Managed Services Provider Expands Product Capabilities Through the Industry-Leading Interconnection Platform

DENVER--(BUSINESS WIRE)-- CoreSite, a leading hybrid IT solutions provider and subsidiary of American Tower Corporation (NYSE: AMT) (“American Tower”), today announced that MOD Mission Critical (MOD), an international managed services provider specializing in colocation and IP services solutions, has expanded its capabilities to address multicloud and hybrid-cloud opportunities through the Open Cloud Exchange^® (OCX). MOD’s PaaSPort™ platform provides customers with an easy-to-use interface to order multicloud, hybrid-cloud and private-cloud connectivity solutions, along with a full suite of services specifically designed to enable multi-facility, multicloud (hybrid) and multi-network solution deployments world-wide.

MOD recently integrated into the OCX, a leading software-defined interconnection platform, to seamlessly deliver cloud connectivity solutions to its customer base. The OCX provides superior performance, security and access to CoreSite’s robust ecosystem of service providers that enables enterprises to accelerate IT modernization, rapidly scale on-demand and reduce total cost of ownership (TCO).

“By leveraging the OCX, MOD has improved its go-to-market strategy, further elevating our long-standing, customer-centric approach delivering Platform as a Service for colocation, bare metal and managed connectivity solutions both to the internet and to the public clouds," said Michael Hollander, Founder and CEO at MOD. “The OCX provides tools to simplify service delivery, and by working with CoreSite, we have access to a world-class network of cloud and service providers, as well as highly interconnected campuses located in the major U.S. markets.”

The OCX provides comprehensive connectivity solutions to customers, such as MOD, with direct connectivity to leading cloud providers and secure, high-bandwidth networking between CoreSite’s 28 data centers, thus enabling customers to easily establish multisite deployments.

MOD’s PaaSPort™ easy-to-use interface enables enterprises to shop and buy nearly any type of digital infrastructure solution with ease and guaranteed SLAs to deliver the performance and reliability companies require. Transparency, control and dynamic ability to meet the changing digital landscape needs of businesses is at the core of MOD’s PaaSPort™ solution - empowering businesses of all sizes throughout the world to transform and adopt improved digital communications solutions.

“We value our partnership with MOD and are excited to help the organization utilize the OCX to expand revenue streams and solve ever-changing customer requirements,” said Brian Eichman, VP of Solution Architecture at CoreSite. “This relationship is a perfect example of how the Open Cloud Exchange^® can support organizations and managed service providers to increase their competitive edge and win in the marketplace.”

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.

About MOD Mission Critical

MOD Mission Critical (MOD) is an international platform as a service company delivering a full suite of flexible, as-you-need-it solutions offered through the MOD PaaSPort™ suite of services: Bare Metal Servers, Global Network Managed Colocation and Managed Services. Designed for transparency, flexibility and ease of service with industry-leading SLAs, PaaSPort™ is a platform that aggregates global capabilities into a single user-interface for design, quote, order and management. Enterprises and small- to medium-sized businesses with growing and varied requirements can order a single rack-unit to complete global digital infrastructure deployments from 100s of locations across six continents.

Forward-Looking Statements

This press release contains statements about future events and expectations, or “forward-looking statements,” all of which are inherently uncertain. We have based those forward-looking statements on management’s current expectations and assumptions and not on historical facts. Examples of these statements include, but are not limited to, statements regarding the transaction described above and the value and future investment activities of our U.S. data center business. These forward-looking statements involve a number of risks and uncertainties. For important factors that may cause actual results to differ materially from those indicated in our forward-looking statements, we refer you to the information contained in Item 1A of American Tower’s Form 10-K for the year ended December 31, 2022, under the caption “Risk Factors” and in other filings American Tower makes with the Securities and Exchange Commission. Neither we nor American Tower undertake any obligation to update the information contained in this press release to reflect subsequently occurring events or circumstances.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230227005125/en/

CoreSite Contact

Megan Ruszkowski

Vice President of Marketing

720-446-2014

Megan.Ruszkowski@CoreSite.com

Media Contact for MOD Mission Critical

Ilissa Miller

iMiller Public Relations

Tel: 1.917.743.0931

Email: mod@imillerpr.com

Source: CoreSite

FAQ

What recent announcement did American Tower (AMT) make regarding CoreSite?

American Tower's CoreSite announced the integration of MOD Mission Critical into its Open Cloud Exchange to enhance multicloud and hybrid-cloud capabilities.

How does MOD's PaaSPort™ platform impact businesses?

MOD's PaaSPort™ platform simplifies the ordering of multicloud, hybrid-cloud, and private-cloud connectivity solutions for businesses, ensuring guaranteed SLAs.

What is the significance of the partnership between CoreSite and MOD Mission Critical?

The partnership allows MOD to leverage CoreSite’s robust ecosystem for improved service delivery and customer engagement.

What are the benefits of the Open Cloud Exchange for MOD?

The Open Cloud Exchange provides MOD with superior performance, security, and access to a wide range of service providers for enhanced cloud connectivity.

How might the integration of MOD into CoreSite's OCX affect American Tower's stock (AMT)?

The integration may lead to increased revenue streams for MOD, positively impacting American Tower's stock performance.