Cordiant Acquires DataGryd and Emitel for $551m

Cordiant Digital Infrastructure has announced the acquisition of Polish digital infrastructure firm Emitel and US data center company DataGryd for $551m. Cordiant revealed that it had already entered a binding agreement to acquire some DataGryd Datacenters LLC assets that constitute its full operational platform for $74 million. The company will be funding the acquisition with available cash resources. DataGryd currently operates a 170,000 square feet data center with a 15MW capacity in New York. There’s also an option of expanding the space further with 120,000 square feet in the future.

Cordiant also revealed that over half of DataGryd’s existing data center footprint is leased to blue-chip customers. Co-CEO and Managing Partner at Cordiant Capital, Benn Mikula, said DataGryd’s platform would give Cordiant’s investors a convincing investment window for interconnected data centers. Cordiant also bought Emitel for £352 million ($477.7m) from Alinda Capital Partners. Cordiant will fund the acquisition through a combination of backstop vendor financing and available cash resources.