DataBank, a Digital Bridge portfolio company, has signed a definitive agreement to acquire C7 Data Centers. C7 currently operates three, highly interconnected colocation data centers in the Salt Lake City region, including the primary carrier hotel in downtown Salt Lake City.
C7 Data Centers has a large established customer base of enterprise, carriers, content providers, and cloud services providers. The acquisition complements DataBank’s existing portfolio in Minneapolis, MN, Kansas City, KS, and Dallas, TX. It would be an attractive expansion market for DataBank’s existing customers. Financial terms of the acquisition were not disclosed.
The acquisition represents DataBank’s first investment in the western United States. “We are very pleased to see DataBank executing on the growth plan and adding a fourth market in a growing region,” said Jon Mauck, DataBank’s President & Chief Investment Officer. “We continue to see compelling opportunities, both organic and acquisition-related, on the horizon.”
Following the acquisition of C7, DataBank now operates in four major US markets. The company spans over a quarter of a million square feet of top-tier data center space across Salt Lake, Dallas, Kansas City and Minneapolis. Services include a full suite of colocation, cloud, managed and network services.
“DataBank is a great fit for this market,” said Wes Swenson, CEO of C7 Data Centers. “It was immediately apparent how they would benefit our existing client base. The combination of new markets and expertise will add incremental capabilities and expand our geographic service offerings.”
About Digital Bridge Holdings
Founded in 2013 by Marc C. Ganzi and Ben Jenkins, Digital Bridge is focused on the ownership, investment and active management of companies in the communications infrastructure sector.
Since inception, Digital Bridge has raised over $6.3 billion of debt and equity capital used to acquire and invest in the development of communications infrastructure businesses, including DataBank, ExteNet, Vertical Bridge, Andean Tower Partners, and Mexico Tower Partners.