KKR & Co. and Global Infrastructure Partners have agreed to acquire data-center owner CyrusOne Inc. in a transaction valued at roughly $15 billion.
The buyers agreed to pay $90.50 per share, a 25% premium to CyrusOne’s share price on Sept. 27, the last trading day before a published report about a potential company sale, according to a statement. The total purchase price includes the assumption of debt. The transaction is expected to close in the second quarter of next year.
The deal comes amid consolidation among real estate investment trusts that manage data centers, which provide crucial infrastructure for companies big in cloud computing, such as Amazon.com Inc., Salesforce.com Inc. and Alphabet Inc. CyrusOne, which specializes in the design, construction and operation of more than 50 high-performance data centers, will be closely held following the close of the transaction.
“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,” Waldemar Szlezak, a managing director at KKR, and, a partner at GIP, said in the statement. “We see numerous opportunities ahead to continue expanding CyrusOne’s footprint across key global digital gateway markets.”
Morgan Stanley and DH Capital served as financial advisers to CyrusOne, and Goldman Sachs Group Inc., Barclays Plc, Wells Fargo & Co., JPMorgan Chase & Co. advised KKR and GIP.
In a separate transaction announced Monday, American Tower Corp. agreed to acquire CoreSite Realty Corp. for about $10 billion.