April 2019, Deep Blue Communications will move roughly 40 employees from Latham, New York into the 4th floor at Hedley Park Place, 433 River Street in downtown Troy. First Columbia’s Waterfront [district], a master planned redevelopment project is known for attracting tech focused type businesses along with many other industries.
Deep Blue Communications is a fast-growing Wi-Fi provider and industry leader with over 15 years engineering, installing and managing commercial WiFi networks and WiFi support. Deep Blue has made the INC 5000 list of the fastest growing companies for the last six years, and emerged as a leading WiFi provider for hotels, retail, entertainment venues, marinas and more.
The move, will give Deep Blue the space it needs for the growth the company has seen in the last few years. “If history repeats itself, we’ll have another 30 percent growth this year,” said Brian Epstein, Chief Executive Officer. Deep Blue had about $38 million in revenue last year and employs 125, including roughly 85 at the administrative offices and help desk at 7 Century Hill Drive in Latham. Epstein expects to hire 20 more people this year.
The lease with Kevin Bette at First Columbia LLC was signed Thursday, returning the total occupancy of the 272,000-square-foot building to 94 percent.
Founded in 2004, Deep Blue Communications has grown rapidly by installing wireless networks at large hotels and venues across North America and the Caribbean. A private equity investment in 2016 provided a jolt, enabling Deep Blue to buy other firms. Epstein is pursuing deals with real estate investment trusts and hospitality management companies that have hundreds of hotels in their portfolio, a potential big step up for Deep Blue.
“We’ve now earned the right to have those conversations,” he said.