Bandwidth.com, a communications company based in Cary, plans to announce Wednesday that it is leasing space from Raleigh’s Red Hat, Inc. on North Carolina State University’s Centennial Campus.
Red Hat is in the process of relocating its headquarters from N.C. State to downtown Raleigh.
Bandwidth.com will be moving into the Venture III building on Centennial Campus in September. The company signed a 4-year sublease with Red Hat for the space.
Financial terms were not disclosed.
Bandwidth.com, which currently has 300 employees, expects to add another 200 workers over the next three years, said Noreen Allen, the company’s chief marketing officer.
Among its latest offerings is mobile telecommunications marketed under the “Republic” label.
The company is privately held and profitable, with projected revenues of $130 million this year, Allen said.
“We view ourselves as the next Red Hat for the Triangle,” she said. “Just as Red Hat transformed software, we are transforming communications. We are changing the way people communicate.”
Bandwidth.com operates its own nationwide telecommunications and Internet network. It provides a variety of services, both voice and data, and is launching its own wireless service.
Raleigh Mayor Nancy McFarlane said the city is proud to be Bandwidth.com’s new home.
“I am thrilled to welcome Bandwidth.com and its 300 talented employees to Raleigh and Centennial Campus. We’ve worked hard to become a city of innovation, and the Bandwidth news – combined with recent developments at Red Hat and Citrix – makes it clear that we’re on the right track,” McFarlane said in a statement. “Bandwidth – like Raleigh – is fast becoming a world leader.”
N.C. State Chancellor Randy Woodson, echoed that welcome and said innovation and jobs are among the university’s top priorities.
“Bandwidth.com’s ability to turn bold new ideas into successful products has made it a global leader. This is exactly the kind of company that NCSU’s leadership designed Centennial Campus to host and help foster by providing creative collisions with expert faculty, talented students and cutting edge partner companies,” Woodson said in a statement.