EQT Infrastructure to buy data center services company EdgeConneX
Stockholm-based EQT Infrastructure says it has agreed to buy, via its EQT Infrastructure IV fund, privately held data center service provider EdgeConneX, Inc. Financial terms of the deal, in which EQT will buy EdgeConneX from an investor group led by Providence Equity Partners, were not disclosed. EQT expects to close the sale in the fourth quarter of this year.
EdgeConneX operates or is developing more than 40 facilities in 33 markets in North America, Europe, and South America (see, for example, "EdgeConneX opens edge data center in Buenos Aires" and "EdgeConneX launches Portland data center ecosystem"). Its customers include cloud, content, network, and other service providers in need of large purpose-built facilities and/or edge facilities. EQT Infrastructure says it will support EdgeConneX’s continued growth.
"EQT has followed EdgeConneX's journey from its early years to its growth into a top data center industry player,” commented Jan Vesely, partner at EQT Partners. “We are deeply impressed by EdgeConneX's management team and the success they have had in creating a key contributor to the global cloud infrastructure. This partnership represents an exciting opportunity for EQT in a sector and geographies where we have significant experience. EQT looks forward to working with the team in continuing to grow the business and identify new expansion opportunities."
"EQT brings significant financial resources and digital infrastructure industry experience which EdgeConneX will use to accelerate growth and invest in new data centers around the world,” added Randy Brouckman, CEO of EdgeConneX. “I look forward to continuing to lead EdgeConneX and we are very pleased to have EQT as our new owner and partner in this exciting growth phase. On behalf of EdgeConneX, I thank our outstanding customers and partners, dedicated employees, and long-term shareholders that gave us the latitude to succeed and create lasting value."
EQT Infrastructure IV has made several acquisitions in the communications space (see, for example, “Digital Colony, EQT to buy fiber-optic network services supplier Zayo” and “EQT, OMERS to buy German FTTH provider Deutsche Glasfaser”). Once the EdgeConnex deal closes, the fund is expected to be 80-85% invested.
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About the Author
Stephen Hardy
Editorial Director and Associate Publisher, Lightwave
Stephen Hardy is editorial director and associate publisher of Lightwave and Broadband Technology Report, part of the Lighting & Technology Group at Endeavor Business Media. Stephen is responsible for establishing and executing editorial strategy across the both brands’ websites, email newsletters, events, and other information products. He has covered the fiber-optics space for more than 20 years, and communications and technology for more than 35 years. During his tenure, Lightwave has received awards from Folio: and the American Society of Business Press Editors (ASBPE) for editorial excellence. Prior to joining Lightwave in 1997, Stephen worked for Telecommunications magazine and the Journal of Electronic Defense.
Stephen has moderated panels at numerous events, including the Optica Executive Forum, ECOC, and SCTE Cable-Tec Expo. He also is program director for the Lightwave Innovation Reviews and the Diamond Technology Reviews.
He has written numerous articles in all aspects of optical communications and fiber-optic networks, including fiber to the home (FTTH), PON, optical components, DWDM, fiber cables, packet optical transport, optical transceivers, lasers, fiber optic testing, and more.
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