EQT AB is seeking to buy EdgeConneX for roughly $2.5 billion, according to Bloomberg.
EQT is a Nordics-based investment firm. EdgeConneX is a Herndon, Virgina-based data center company backed by Providence Equity Partners, among others, Bloomberg Notes.
Providence Equity has been seeking $3 billion for EdgeConneX, according to PE Hub report in September 2019. EdgeConneX executives back in March 2019 denied rumors that the company was for sale, Data Center Knowledge reported at the time.
EdgeConneX: Data Center Company History
EdgeConneX, founded in 2009, builds data center solutions ranging from 40kW to 40MW or more. The company since 2013 has built over 40 data centers across North America, Europe, and South America, the firm's website indicates.
EdgeConneX also manages a proprietary database of 4 million buildings, 14 million businesses and 200,000 cell towers to determine ideal sites for new "Edge" data centers, the company says.
Who Is EQT AB?
EQT AB is an investment firm that has considerable experience in the technology market across software, managed services and infrastructure.
Among the private equity group's key acquisitions:
- July 2019: Australian cloud and managed service provider Nexon Asia Pacific for an undisclosed sum.
- July 2018: SUSE Linux, the popular open source alternative to IBM's Red Hat Enterprise Linux (RHEL), among others.
- February 2017: Lumos Networks. At the time, Lumos Networks had 9,204 fiber route miles and 475,507 total fiber strand miles, 36 data centers, including seven company owned co-location facilities.
