Hosted Solutions dives into $2.52M deal with FortuneCity.com

The Triangle Business Journal, November 11, 2001

Cary-based Hosted Solutions has been awarded a three-year, $2.52 million contract to provide Web hosting for New York-based FortuneCity.com, says Hosted Solutions Chief Executive Officer Rich Lee.

The agreement will bring Hosted Solutions to a cash positive position, according to the company. It also will result in the hiring of about 12 more IT employees in the next three months, says Hosted Solutions President Chris Hanks.

“It's no secret that many of the data centers around the country are battling overcapacity and huge debt loads,” Hanks said in a statement. “We are debt free, profitable and have a simple, straightforward and sustainable business strategy - provide Internet-enabled companies with customized, scalable and cost effective Web-hosting, data-storage and security solutions.”