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Report: Digital Realty eyes CyrusOne acquisition

Written by Tue 24 Sep 2019

Last month it was reported that CyrusOne was considering bidders

The latest organisation interested in acquiring CyrusOne is its data centre rival Digital Realty, according to Bloomberg.

Last month Bloomberg broke the news that CyrusOne was looking at potential suitors after receiving takeover interest, prompting the Texas-based data centre company’s stock to surge.

A group of bidders, including KKR & Co., Stonepeak Infrastructure Partners and I Squared Capital is in the early stages of tabling a bid for CyrusOne, according to Bloomberg. They are not alone – Digital Colony Partners and EQT Partners also assembling for a potential acquisition.

Founded in 2001, CyrusOne is one of the world’s leading colocation providers, owning and operating 48 data centres across US, UK, Singapore, Frankfurt and Germany and serving 1,000 customers.

Unlike other real-estate investment trusts (REITs) that specialise in data centres, such as Equinix and Digital Realty, CyrusOne mainly serves Fortune 1,000 companies. The company generated $821 million in revenue in 2018 and currently has a market cap of $8.87 billion.

If a deal goes through it will add to the huge number (52) of data acquisitions already closed this year, priming 2019 to be a record year for industry M&A. Digital Realty and Equinix account for 36 percent of deals closed since 2015.

Written by Tue 24 Sep 2019

Tags:

cyrus one digital realty M&A
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