American Tower Corporation: American Tower acquires CoreSite for $10.1 billion

Nov 16, 2021 | Posted by Abdul-Rahman Oladimeji

American Tower has completed the acquisition of CoreSite for $10.1 billion. According to American Tower, the acquisition of CoreSite will help transform its mobile computing business. Coresite operates up to 25 data centers in the United States. CEO of American Tower, Tom Bartlett, said American Tower is in the developing stages of a cloud-based, connected and worldwide distributed digital revolution that will evolve over the next ten years and beyond.

He commented that the company hopes that combining CoreSite’s state-of-the-art, interconnection-focused data center business with its leading global real estate portfolio will help position American Tower to be a leader in the 5G world. The transaction is expected to close before the end of 2021. American Tower says it would be financing the transaction through a J.P. Morgan financing.

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