Inflow Appoints Jim McHose as Executive Vice President, Corporate Development

Mark Hughes Appointed as Chief Financial Officer

 

8/26/2002

Denver, CO — (BUSINESS WIRE) — In the wake of securing an additional $35 million in equity funding, Inflow, Inc., a leading provider of managed web hosting and outsourced IT services, announced today the appointment of Jim McHose as executive vice president, corporate development. Mr. McHose, former chief financial officer, will take on the newly created position and will report to Art Zeile, chief executive officer.

“With a strong balance sheet and streamlined operating model, Inflow is well positioned for strategic growth opportunities,” said Art Zeile. “McHose’s prior experience and knowledge of the industry will help Inflow build new alliances and partnerships, while competitors struggle with their own financial challenges.”

Jim McHose joined Inflow in September 1999. In his new role, Jim will be responsible for developing strategic alliances and partnerships to help the company expand its footprint and growth in the web hosting industry. Jim holds a CPA and has 15 years of business finance experience in the technology industry, including strategic planning, operational analysis, tax, accounting, and mergers and acquisitions.

Mark Hughes will assume the role of chief financial officer. As CFO, Mark will be responsible for all financial aspects for the company, including long-term planning and generating sources of capital to support operating and strategic needs.

“With his broad financial and operational experience and proven track record of driving financial success and cost containment, Mark is the perfect individual to maintain Inflow’s financial strength,” said Art Zeile.

Mark Hughes joined Inflow in May of 2000 as vice president of finance and business operations. Prior to his tenure at Inflow, Mark served 24 years in the U.S. Air Force, retiring as a Colonel. Most recently, Mark was executive advisor to the Under Secretary of the Air Force; the office oversees a $68 billion annual budget for programs supporting recruiting and training of nearly 700,000 personnel.

About Inflow

Inflow provides facilities-based IT solutions to companies with critical business and network applications. Founded in 1997, Inflow opened its first Internet Data Center (IDC) in June 1998 and currently serves more than 680 customers from its IDCs in 12 markets throughout the U.S. The Company offers customers a cost-effective outsourced alternative that is secure, redundant and fully managed. Core services include colocation, network management, managed security services, application management, data storage and InflowNet™ — a proprietary Internet access service that guarantees 100% availability. Additional services include business continuity, Intelligent Routing for Internet access, content distribution, load balancing and remote enterprise data center management.

In June 2002, Inflow completed an equity financing of $35 million, bringing total capital raised to more than $300 million. Investors include Meritage Private Equity Funds, Centennial Ventures, Telecom Partners, Spire Capital Partners, The Halyard Capital Fund, GE Capital and PNC Equity.

For additional information and IDC locations, please visit www.Inflow.com or call 877/321-2464.