Cyxtera Technologies: Cyxtera Mulling Over Sale

Apr 08, 2022 | Posted by Abdul-Rahman Oladimeji

According to Bloomberg, Cyxtera Technologies is mulling over a sale just a year after it went public. The report shows that the company is looking into different strategic options, which also include a potential sale. Cyxtera is also working with advisers to consider the best choice for the company. The company merged with Starboard Value Acquisition Corp. (SVAC) last year.

SVAC was founded by the Starboard Value hedge fund. It raised $360 million through its IPO in September 2020. In February 2021, Cyxtera announced that it was combining with SVAC in a $3.1 billion merger deal. The deal was completed in the summer of the same year. Cyxtera currently operates over 60 data centers with a combined capacity of 245MW across 22 markets worldwide. It owns two data centers in Virginia and Colorado while leasing the rest of its portfolio.