KKR and GIP to spend $15bn on CyrusOne

Date:
Mon, 15 Nov 2021 17:30:36 +0000

Description:
Private equity firms acquire data center REIT CyrusOne in landmark deal.

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CyrusOne is set for a return to being a privately held company after global investment firms KKR and Global Infrastructure Partners (GIP) announced a
deal to buy the data center REIT out for $15bn.

The all-cash deal will see the private equity players acquire all CyrusOnes outstanding shares of common stock for $90.50 per share.

Launched in 2001, CyrusOne has since designed, built and operated more than
50 colocation data centers across the world. The firm also offers managed hosting for cloud and dedicated servers through Connectria. Data center deal

The transaction, unanimously approved by the CyrusOne board, is expected to close in the second quarter of 2022.

This transaction is a testament to the tremendous work by the entire CyrusOne team. We have built one of the worlds leading data center companies with a presence across key U.S. and international markets supporting our customers mission-critical digital infrastructure requirements while creating significant value for our stockholders, noted Dave Ferdman, Co-Founder and interim President and Chief Executive Officer of CyrusOne.

KKR and GIP will provide substantial additional resources and expertise to accelerate our global expansion and help us deliver the timely and reliable solutions at scale that our customers value.

KKRs investment is being made primarily from its global infrastructure and real estate equity strategies, and GIPs investment is being made from its global infrastructure funds.

CyrusOne has built one of the strongest data center companies in the world
and has a strong track record of development and operational expertise in addition to delivering best-in-class service to its customers. We are excited to work together with the companys proven team to build on CyrusOnes market leadership and support their customers growing data center infrastructure requirements, said Waldemar Szlezak, Managing Director at KKR, and Will Brilliant, Partner at GIP.

We see numerous opportunities ahead to continue expanding CyrusOnes footprint across key global digital gateway markets and look forward to leveraging our global resources, access to long term capital and deep expertise to support the companys growth.

In 2007, CyrusOne was first acquired by ABRY Partners, then was sold in 2010 to telecommunications service provider Cincinnati Bell for $525 million.

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Link to news story: https://www.techradar.com/news/kkr-and-gip-to-spend-dollar15bn-on-cyrusone/


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