CityReach Opens IP/IT Facility in Hungary
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[London, ENGLAND] Pan-European business Internet service provider CityReach International (CRI) announced Monday the opening of an IP and IT exchange facility in Budapest, Hungary.
The new, 8,800 square meter center will provide services to corporations in Central Eastern Europe. It represents a US $30 million investment for CRI.
Dr. Sanjaya Addanki, CRI's chief executive, said that the success of his company's facilities in the Netherlands and the U.K. had validated its plans to "set the standard" for what he called the "Business Internet."
"In Budapest we will be offering our partners the same quick and easy access to our facilities and managed services, with no compromise on security or technical excellence," said Addanki.
Backed by venture capitalists to the tune of US $350 million, CRI claims to go far beyond the traditional carrier hotel, co-location and application hosting providers in the services it offers to businesses.
Addanki refers to the competition as offering little more than "rack-based real estate," bringing more and more undifferentiated capacity to the marketplace.
A former IBM vice president, Addanki was once responsible for Big Blue's e-hosting services in Europe, Middle East, and Africa -- and it is clear that he has carried some corporate philosophy from his previous job to his current one.
"CityReach, rooted in the mission-critical, zero tolerance, corporate IT culture, will offer value through comprehensive and guaranteed managed services from a highly secure and reliable environment. We will deliver service levels that meet or exceed those found in the customer's internal environments," said Addanki.
Addanki noted that the market in Hungary is developing at a speed close to that of the EU economies. This, he said, was the reason for opening in Budapest immediately after Amsterdam and London.
CRI's Hungarian facility is being opened officially by Gábor Demszky, the Mayor of Budapest, who said the city was ready to become the center of e-business in Central Eastern Europe.