CyrusOne stockholders will get $90.50 per share.

Claudia Adrien

November 15, 2021

2 Min Read
Acquisition
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Global investment firms KKR and Global Infrastructure Partners (“GIP“) plan to acquire CyrusOne, a premier global data center REIT. It’s an all-cash deal worth approximately $15 billion, including the assumption of debt.

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CyrusOne’s Dave Ferdman

Dave Ferdman is co-founder and interim president and CEO of CyrusOne.

“This transaction is a testament to the tremendous work by the entire CyrusOne team,” Ferdman said. “We built one of the world’s 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.”

Moreover, KKR and GIP will provide substantial additional resources and expertise to accelerate CyrusOne’s global expansion, he said. Further, it will deliver timely and reliable solutions at scale.

CyrusOne Valuation

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CyrusOne’s Lynn Wentworth

Lynn Wentworth, chair of the CyrusOne board of directors, said the deal is a culmination of a robust strategic review. As a result, it determined the best path forward for the company and to maximize stockholder value.

“This transaction provides CyrusOne stockholders with significant value,” Wentworth said. “And it simultaneously positions the company to even better serve its customers to meet their needs in key markets.”

CyrusOne built one of the strongest data center companies in the world. Subsequently, it has a track record of development and operational expertise, according to its financial partners.

Waldemar Szlezak is managing director at KKR and Will Brilliant is partner at GIP.

Keep up with the latest channel-impacting mergers and acquisitions in our M&A roundup.

“We see numerous opportunities ahead to continue expanding CyrusOne’s footprint across key global digital gateway markets,” they said. “We look forward to leveraging our global resources, access to long-term capital and deep expertise to support the company’s growth.”

No Financing Conditions

The transaction, which the CyrusOne board of directors approved unanimously, is not subject to a financing condition. It will likely close in the second quarter of 2022.

Further, upon completion of the transaction, CyrusOne will be a privately held company wholly owned by KKR and GIP. Consequently, common stock of CyrusOne will no longer be listed on any public market. KKR’s investment is from its global infrastructure and real estate equity strategies. GIP’s investment comes from its global infrastructure funds.

 

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About the Author(s)

Claudia Adrien

Claudia Adrien is a reporter for Channel Futures where she covers breaking news. Prior to Informa, she wrote about biosecurity and infectious disease for a national publication. She holds a degree in journalism from the University of Florida and resides in Tampa.

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