Thursday Roundup: Cyxtera, DataBank, CoreSite, Astound, Thrive

November 9th, 2023 by · Leave a Comment

Two items of M&A, one expansion, and an ecosystem partnership:

I missed this one from last week, but it’s worth noting. Cyxtera has agreed to sell off substantially all of its remaining assets. Brookfield Infrastructure Partners will be buying 7 of Cyxtera’s facilities for $775M, while two others in Montreal and Vancouver will go over to Cologix. Assuming the BK court approves, this will end Cyxtera’s run unless someone restarts the brand somewhere down the line.

DataBank has a new expansion planned up in the Minneapolis metro area. They will be adding 15,000 square feet of raised floor space and 4.5MW of power to their MSP3 facility. MSP3 was their first location at the Brooklyn Park campus and opened just two years ago. DataBank has four locations in and around Minneapolis.

CoreSite is teaming up with Astound Business Solutions. Astound is deploying nodes within CoreSite’s locations in Boston, Chicago, Washington D.C., Los Angeles and Silicon Valley. From there they will have access to CoreSite’s cloud on-ramps and ecosystem, while CoreSite customers gain another network option with access to 40K fiber route miles. CoreSite is a division of American Tower, while Astound was built from the footprints of RCN, Grande Communication, and Wave six years ago and is now owned by Stonepeak.

And there was a bit of managed services M&A down in Florida this week. Thrive has announced the acquisition of Miami-based 4IT, which serves enterprises in southern Florida and particularly in Miami and Ft. Lauderdale. The deal is Thrive’s 20th deal in the last 7 years, with four of those in Florida as they continue to build out their cybersecurity and managed services depth.

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Categories: Datacenter · Fiber Networks · Managed Services · Mergers and Acquisitions · Security

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