Extends Global Footprint into Europe’s Two Largest Markets, London and Frankfurt, with Significant Expansion Opportunity
DALLAS (December 21, 2017)–CyrusOne Inc. (“CyrusOne”) (NASDAQ:CONE), a premier global data center REIT, today announced the execution of a definitive agreement with Quantum Strategic Partners Ltd. (“Quantum”), a private investment fund managed by Soros Fund Management LLC and certain other sellers named therein, to purchase Zenium Data Centers (“Zenium”), a leading hyperscale data center provider in Europe with four properties in London and Frankfurt, the continent’s two largest data center markets. The purchase price is $442 million, reflecting a multiple of 18 times expected annualized Adjusted EBITDA of approximately $25 million from both commenced and signed but not yet billing leases. CyrusOne will also reimburse Zenium for capital expenditures between signing and closing. The transaction is expected to close in the first quarter of 2018, subject to the fulfillment of customary closing conditions including applicable regulatory approvals.