Sep 08, 2023 | Posted by Abdul-Rahman Oladimeji
Manulife Investment Management has concluded the acquisition of data center firm Serverfarm on behalf of Manulife Infrastructure Fund II. In May 2023, Manulife announced its intention to acquire a majority stake in Serverfarm. Avner Papouchado, the CEO of Serverfarm, and NantCapital LLC will retain "significant ownership interests in Serverfarm," though neither the size of the stake nor the deal's value has been disclosed. Papouchado will retain his position as CEO despite the change in ownership.
Serverfarm plans to use the financing provided by the purchase and additional funding from NantCapital LLC to expand its data center inventory and continue conducting market analysis for its data center management as a service (DMaaS) platform, InCommand.
Citigroup Global Markets Inc. advised Serverfarm as its primary financial advisor, TD Securities (USA) LLC as its financial advisor, and Dentons US LLP and Alston & Bird LLP as its legal counsel. Manulife Investment Management was advised by TAP Advisors LLC, and Paul, Weiss, Rifkind, Wharton & Garrison LLP provided legal counsel.
