PE-Backed Cologix Buys Minneapolis Data Center
Cologix, a private equity-backed cloud, colocation, and interconnected services provider, has acquired a 16,000 square foot data center in Minneapolis, Minnesota.
The previous owner of the space was Florida-based colocation provider vXchnge. The exact amount of the deal was not disclosed. Once the deal is completed, Cologix will have more than 60,000 total square feet of data center space within Minneapolis.
This is M&A deal 341 that ChannelE2E has covered so far in 2020. See the full M&A deal list here.
Bill Fathers, chairman & CEO of Cologix, commented on the news:
“Minneapolis continues to be a strong data center market with enterprises seeking dynamic cloud ecosystems and onramps to support their cloud migrations. We are thrilled to continue our investment in our Minneapolis footprint by adding our fourth interconnection hub in the market in response to customer demand.”
Cologix’s New Minneapolis Data Center
The deal will bring Cologix dozens of new customers already operating within the data center, as well as the additional capacity to respond to growing customer demand, the buyer said.
Cologix already operates out of 30 interconnection hubs and four hyperscale sites across 10 US states, as well as Canada. A strategic alliance with European colocation firm Colt gives Cologix access to the European and Asian markets.
The company’s carrier-neutral facilities offer customers access to various networks and cloud operators. Cologix counts network providers, cloud providers, media companies, financial companies, and enterprises among its customers.
Acquisition by Stonepeak Infrastructure Partners
Cologix was itself acquired by private equity firm Stonepeak Infrastructure Partners in 2017. Founded in 2011 and headquartered in New York, Stonepeak manages over $18 billion of capital for its investors, according to the firm’s website.
Stonepeak is a North America-focused private equity firm that invests in Energy, Power & Renewables, Transportation, Utilities, Water & Communications.
Data center merger and acquisition activity has remained steady, according to ChannelE2E’s ongoing coverage.