It isn't reasonable because that's a dedicated server quote. I don't know who they use for peering their fiber but that's important too but mine was slightly cheaper because I built my own server, so I didn't rent the hardware, just the rack, bandwidth, IPs (I had 128 dedicated ones believe it or not).
Anyway from the sounds of it, you need shared hosting, if you want a compromise for actual "private cloud hosting", you should look for a Virtual Private Server/Virtual Dedicated Server. A good one would run around $40 non-discounted with a website control panel such as cPanel or DirectAdmin included. I recommend ownCloud (https://owncloud.org/
) if you want a real wholly private cloud solution just for your company. I doubt you need the Enterprise Edition and can just use the free open source version which even includes the mobile app support.
A great place for research, sales and asking of questions is http://www.webhostingtalk.com/
. People responding are either web hosting administrators or web host owners generally. The big names pay people to go there everyday and make sure bad review posters are taken care of. It is somewhat of a web hosting secret but also has a big reputation (amongst the industry).
I've been working crazy long hours so I didn't research iMedia or check their network but if you really want me too I probably could but if you seriously asked them for a hosting quote and you told them what you posted here for your needs, then they are shady already. I've seen this same sort of thing many times before.
Let me know if you need advice and if I don't post here, you can add me to Facebook or something too.
EDIT: For reference, I once got a deal years ago on WHT (I'm not sure if it was a 'sale' or I helped someone there out) but I get 40 GB of space, unlimited bandwidth, all the amenities and unlimited space for MySQL databases for $2.98/month from http://www.stablehost.com/
which is a customized package for me (you'll find the plan under Enterprise for $60/mo. I believe).