UPDATE Brookfield Infrastructure Partners (NYSE: BIP) along with its institutional partners and existing investor, Ontario Teachers’ Pension Plan, announced a definitive agreement with RedBird Capital Partners and the Azrieli Group to acquire Compass Datacenters. The parties did not disclose the purchase price, although it was earlier reported that the deal could be worth more than $5.5 billion, including debt. Brookfield was competing with DigitalBridge Group (NYSE: DBRG) for Compass, Inside Towers reported.
Chris Crosby, Compass’ founder/CEO, and the current management team will continue to lead the company once the deal closes. With the new ownership structure, Compass will receive continued operational and financial support to execute its sustainable and large-scale data center campuses across multiple regions.
Compass, based in Dallas, TX, provides custom data centers for core and edge applications that serve hyperscale, cloud and enterprise customers in dedicated or hybrid colocation configurations. Compass operates 17 data center campuses in the U.S., and internationally in Canada, Italy and Israel, with a total available capacity of nearly 714 MW, according to the company.
“Digitalization remains a key thematic investment for Brookfield Infrastructure,” said Sam Pollock, Brookfield Infrastructure CEO. “The need for data storage continues to grow at an exponential rate across the globe, and Compass complements our existing platforms in South America, Europe and Asia Pacific.”
Subject to customary regulatory approvals, the deal is expected to close by year end.
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