Cequel Data Centers Expands Cloud Services with TierPoint Acquisition
Data center operator Cequel Data Centers announced on Tuesday it has acquired colocation and cloud services provider TierPoint. The financial terms of the deal were not disclosed in the press release.
With this acquisition, Cequel is able to expand on its cloud computing services, including cloud backup and disaster recovery, as the company continues to broaden its customer base beyond companies looking for colocation and data center services.
TierPoint operates three data centers in the greater Spokane, Washington area, totaling over 30,000 combined square feet of raised floor, data center space and almost 4.4 MW of total power.
Cequel Data Centers owns and operates more than 100,000 square feet of raised floor, data center space.
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in one of the safest areas of the United States, with relatively low power costs and high fiber connectivity, the TierPoint acquisition provides us with geographic diversity and fits well with our overall strategy of acquiring data centers in key markets that position us to respond to the growing demand for colocation, managed IT and cloud computing services, said Paul Estes, president and CEO of Cequel Data Centers. TierPoint team has a strong reputation and influential customer base, and they’ve demonstrated their ability to sell into larger markets, with the majority of their revenue now generated by customers outside the Spokane area. Capital Markets acted as financial advisor to the sellers and was the sole lead arranger and sole bookrunner for the debt financing associated with this acquisition. Goldman Sachs, CapitalSource Bank, US Bank, ING Capital, and CoBank also participated in the credit facility.
Cequel is a portfolio company of Thompson Street Capital Partners, Charterhouse Group, and Cequel III
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