Just before the break, there was an M&A in the data center space that slipped past my nets. CyrusOne has announced a definitive agreement to acquire Zenium Data Centers in a deal that significantly expands the company’s presence in Europe.
Zenium brings four properties to the table, two they own in Frankfurt and two with long term leases in London. At full buildout, they will add up to 260,000 square feet of colo space fed by 49.3MW of power. About 54% of the power capacity has been leased thus far, with Frankfurt at 65%. Some 75% of contracted revenue comes from hyperscale companies, and half of the customer base is new to CyrusOne.
CyrusOne will be paying $442M for Zenium, and in addition will be reimbursing the company for the capex spent between signing and closing, which is expected sometime during Q1. For that price tag, they will be tacking on some $40M in revenue (excluding pass-through power) and $25M of adjusted annualized EBITDA.
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