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DataBank continues its expansion strategy with the acquisition of C7 Data Centers, the primary interconnection hub and largest data center service provider in Salt Lake City
DALLAS, TX – Jan. 17, 2017 — /BackupReview.info/ — DataBank, Ltd., a Digital Bridge portfolio company, has signed a definitive agreement to acquire C7 Data Centers, the leading data center service provider in the Salt Lake City market. C7 currently operates three, highly interconnected data centers in the region, including the primary carrier hotel in downtown Salt Lake City, and 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, and is an attractive expansion market for DataBank’s existing customers. The market in Salt Lake City has experienced significant growth as a data center destination for west coast enterprises due to its network density and favorable business environment. The acquisition represents the Company’s first investment in the western United States and immediately positions DataBank as the leading provider in the Salt Lake City market with significant room for future expansion to support growth.
“Entering a new strategic market like Salt Lake City represents a huge milestone for the company,” said Timothy Moore, CEO of DataBank. “C7 has a strong reputation and is one of the leading providers of data center and IT services in the region. The C7 strategy, interconnection density, and client base is similar to ours; we see this as a natural extension of DataBank’s vision that will help us with our customers as they continue to expand.”
“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. He added, “We continue to see compelling opportunities, both organic and acquisition-related, on the horizon.”
“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.”
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. For additional information on DataBank, please visit the company website at http://www.databank.com
Stifel served as exclusive financial advisor to C7 Data Centers in the transaction.
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