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Internap completes SingleHop purchase

Internap Corp. completed its $132 million acquisition of Chicago-based SingleHop LLC, a provider of hosted private clouds and managed hosting.

Internap funded the acquisition with an incremental term loan and cash from the balance sheet. As part of the financing, Internap entered into an amendment to its credit agreement to allow for the incremental term loan and to provide further operational flexibility under the covenants.

The company said said Feb. 28 that it has no immediate plans to raise additional capital.