Cyxtera
Enterprise-focused secure infrastructure provider offering advanced data center solutions across North America, specializing in interconnected facilities that support digital transformation for complex organizational environments.
About Cyxtera
The company's positioning as a non carrier neutral operator indicates a business model oriented toward specific customer segments rather than serving as a vendor neutral exchange platform. This approach typically correlates with higher customer concentration risk but allows for more specialized service delivery and potentially stronger customer relationships. The 1,400 employee base suggests meaningful operational and sales infrastructure to support direct enterprise relationships.
Cyxtera's position within the competitive mid market faces headwinds from both larger integrated operators expanding globally and smaller regional specialists defending local market share. The portfolio's heavy weighting toward premium markets like Silicon Valley and New York provides defensible demand drivers, though competing against established players in these densely served regions requires continuous service differentiation. The operator's relatively recent founding and PE backing position it as an acquisition target for larger consolidators or a potential IPO candidate should capital markets conditions become favorable.
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Company Overview
Recent Activity
Cyxtera Partners with NextEra Energy Resources for Green Energy Supply and Sustainability Initiatives
Cyxtera, a global data center colocation and interconnection services provider, has selected NextEra Energy Resources as its preferred supplier of green energy. This partnership aims to accelerate Cyxtera's sustainability goals by increasing the use of renewable energy across its North American footprint through distributed generation systems. Additionally, NextEra Energy Resources has committed $20 million to the PIPE offering for Cyxtera's merger with Starboard Value Acquisition Corp. The collaboration will also explore developing next-generation data centers utilizing renewable energy.
Cyxtera CEO to Participate in Credit Suisse Communications Conference
Cyxtera, a global data center colocation and interconnection services provider, announced that its CEO, Nelson Fonseca, will participate in a virtual fireside chat at the 23rd Annual Credit Suisse Communications Conference. The event is scheduled for June 15, 2021. Cyxtera operates 61 data centers globally and is currently merging with Starboard Value Acquisition Corp.
Starboard Value Acquisition Corp. (SVAC) Announces Merger Agreement with Cyxtera
Starboard Value Acquisition Corp. (SVAC) has entered into an Agreement and Plan of Merger with Cyxtera and other parties. This agreement will result in Cyxtera and its operating subsidiaries becoming subsidiaries of SVAC, with Cyxtera stockholders becoming stockholders of SVAC. The company is expected to file a proxy statement with the SEC for stockholder approval of the transaction. This filing also addresses a restatement of historical financial results due to changes in accounting treatment for warrants and forward purchase agreements, aligning with recent SEC guidance.
Cyxtera Announces First Quarter 2021 Results
Cyxtera, a global data center colocation and interconnection services provider, announced its financial results for the first quarter ended March 31, 2021. The company reported slight increases in total revenue and a 6% increase in core revenue compared to the same quarter last year. Transaction Adjusted EBITDA rose by 3% year-over-year to $56.1 million, driven by higher revenue and cost improvements. Cyxtera also noted positive sales momentum, a 40% increase in core bookings, and flat churn rates.
Cyxtera Agrees to Merge with Starboard Value Acquisition Corp. in $3.4 Billion Transaction
Cyxtera, a leading privately held retail colocation data center provider, has agreed to merge with publicly-listed Starboard Value Acquisition Corp. in a transaction valued at $3.4 billion. This merger will make Cyxtera the third-largest publicly held retail colocation provider globally. The deal is expected to accelerate Cyxtera's growth by providing access to capital and public market expertise, enabling strategic M&A and expansion into new markets. Cyxtera operates 61 data centers across 29 markets and serves over 2,300 customers.
Iron Mountain Completes Acquisition of IO Data Centers U.S. Operations
Iron Mountain Incorporated has finalized its acquisition of the U.S. operations of IO Data Centers LLC for $1.34 billion. This deal includes four data centers located in Phoenix, Arizona; Edison, New Jersey; and Columbus, Ohio, adding 728,000 square feet and 62 megawatts of capacity.