IPVPN services and data center network services provider Pacnet today announced the appointment of Michael Xu as CEO of Pacnet Business Solutions (PBS) in China.
Xu, who will be based in Shenzhen, will drive the company’s expansion plan and lead the PBS team to tap the China data center and networking market.
Xu worked with GDS Services, Dell, Sun Microsystems, Oracle and Motorola.
Pacnet, which entered China in 2008 through a joint venture, is considering as an important market for further growth.
“We are the first and only foreign company licensed to provide IPVPN services and data center network services in China,” said Carl Grivner, CEO of Pacnet.
The following three IT industry reports support Pacnet’s hiring of a senior person for the top job in China.
DCD Intelligence says China’s co-location market is set to grow at a compound annual growth rate (CAGR) of 40 percent, reaching 380 percent of its current size by 2016. The demand is largely driven by the rapid development of cloud computing and big data as a result of the government’s Twelfth Five-Year Plan.
IDC expects the Big Data technology and services market will grow at 38.7 percent CAGR from $165.5 million to $850.1 million in 2017.
China’s cloud computing market is expected to be worth $6 billion in 2017 as demand for the service grows, reported by the China Securities Journal.