Internap Unveils First Open Source Infrastructure Cloud Platform

Internap Unveils First Open Source Infrastructure Cloud Platform

By Kiril Kirilov of CloudTweaks

Atlanta-based company Internap unveiled the first open source infrastructure cloud platform called Internap XIPCloud Storage, the company said. The service is still in its beta stage but is expected to be available to the general public very soon.

Scott Hrastar Senior VP Technology Internap

“Internap XIPCloud Storage takes our performance offering to the next level. We can now deliver reliable, scalable storage that can be provisioned in an instant, operating at the speed of business. Our public cloud storage service will leverage the proven benefits of the OpenStack platform combined with our own global footprint and high-performance connectivity,”

Scott Hrastar, senior VP of technology at Internap, said in a press release.

Internap managed to become the first organization outside NASA ande Rackspace to offer a service based on the OpenStack platform. The platform was released half a year ago by NASA and Rackspace which joined efforts to build a new platform utilizing NASA’s Nova compute engine and fabric controller and Rackspace’s Swift, an object storage platform.

“Internap’s adoption of OpenStack Object Storage is a key win for the community and brings OpenStack one step closer to becoming the de-facto industry standard. The vision of federation across public clouds, enabled by a common platform, will give cloud providers running OpenStack a competitive advantage and greatly benefit the end users of cloud computing by ending cloud lock- in,”

Jonathan Bryce, chairman of the OpenStack Project Oversight Committee.

As a matter of fact, Internap did not participate in development of OpenStack, however, intends to take part in the project in the future. At present, Internap’s service offers a Swift-based service including support for large objects thanks to the Bexar version of Swift. The initial version of OpenStack was called Austin and was released this past fall.

The official release of Internap’s service will offer customers ability to handle objects larger than 5GB in addition to existing services like managed hosting, co-location, content delivery network, and internet connectivity services.

Internap share price movement (last 3 months). Source: Google Finance

The news may boost company’s performance after it reported worse than expected financial results in the third quarter of last year. Revenues slipped to USD 60.3 million compared to USD 64.4 million in the same quarter of 2009, and new USD 80 million credit facility was announced. The company extended borrowing capacity by USD 45 million over previous facility in Q3 2010.

The company posted GAAP net loss was of USD 1.7)million, or USD 0.03 per share, compared with GAAP net loss of USD 2.0 million, or USD 0.04 per share, in the same period of 2009.

Internap’s cash and cash equivalents totaled USD 68.3 million at September 30, 2010, while total debt stood at USD 40.4 million, including USD 20.4 million in capital lease obligations. The company reported 2,767 active customers contracts at the end of the third quarter of last year.

The markets failed to react positively to the news and Internap shares continued their down move in latter trading. However, the overall long-term outlook is positive and most analysts do not recommend to sell the company stocks.

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