KKR and Global Infrastructure Partners have teamed up to buy global data centre REIT CyrusOne in a deal that values the company at $15bn (£11bn).
CyrusOne, which is listed on the NASDAQ, operates more than 50 data centres around the world.
Dave Ferdman, co-founder and interim president and chief executive of CyrusOne, said: “This transaction is a testament to the tremendous work by the entire CyrusOne team. We have built one of the world’s leading data centre companies with a presence across key US and international markets supporting our customers’ mission-critical digital infrastructure requirements while creating significant value for our stockholders.
“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.”
KKR managing director Waldemar Szlezak added: “CyrusOne has built one of the strongest data centre 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.”
GIP partner Will Brilliant said: “We see numerous opportunities ahead to continue expanding CyrusOne’s 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 company’s growth.”
GIP and KKR’s offer for the business at $90.50 per share reflects a 25% premium to CyrusOne’s closing share price on 27 September, the last full day of trading before speculation about the deal became public.
Elsewhere, US REIT American Tower has entered into a definitive agreement to buy CoreSite Realty for around $10bn. CoreSite owns 25 data centres in 8 major US cities.
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