The colocation side of infrastructure saw another significant M&A this morning. TierPoint has signed a definitive agreement to acquire Omaha-based Cosentry.
Cosentry has 9 data centers across the midwest: two in Omaha, two in St. Louis, two in Kansas city, two in Sioux Falls, and one in Milwaukee. Those are all new markets for Tierpoint, and will give them 38 data centers nationally spanning 24 markets in all. That number has been rising quickly, as last year TierPoint bought Windstream's data center business, CxP Data Centers, and AlteredScale last year, not to mention Xand in 2014.
Where might TierPoint aim its consolidation hunger next? Well, they still don't have anything in northern Virginia or in California, and sooner or later every national data center has to show up in those markets.
Terms of the deal were not disclosed, but we do know this one isn't all cash. When the acquisition closes, Cosentry's private equity backer TA Associates will become a significant TierPoint investor alongside RedBird Capital Partners, Cequel III, Ontario Teachers' Pension Plan, the Stephens Group, JZ Advisers and Thompson Street Capital Partners.
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