H5 Data Centers, a national colocation and wholesale data center provider, has acquired the Cleveland Technology Center in downtown Cleveland, Ohio. Financial terms were not disclosed.
H5 now manages nearly 1.5 million square feet of data centers in nine US markets. ByteGrid had owned the Cleveland data center location since 2013. The 2013 purchase price was $16.9 million.
H5 Data Centers has made multiple expansion moves in recent years -- including acquisitions in Seattle (2011), Virginia (2015) and Arizona (2016).
Data Center Mergers, Acquisitions
M&A activity across the data center sector has accelerated in recent months. Among the recent deals:
- Peak 10 acquired a Kentucky data center in January 2017.
- United Internet acquired Strato AG in December 2016.
- Equinix acquired Verizon’s cloud data centers for $3.6 billion in December 2016.
- CenturyLink sold its data centers for $2.15 billion to an investment group in November 2016.
More deals could be coming. For instance:
- Digital Bridge Holdings may acquire Vantage Data Centers Management from Silver Lake Partners for more than $1 billion, according to Reuters.
- IBM may buy Lloyds Banking Group’s data centers, according to reports earlier this month.
