DataBank Announces the Acquisition of C7 Data Centers
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 - January 17, 2017 - 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 www.databank.com.
Stifel served as exclusive financial advisor to C7 Data Centers in the transaction.
DataBank is a leading provider of enterprise-class data center services, offering customers 100% uptime availability of data, applications and infrastructure. DataBank's managed data center services are anchored in world-class facilities. Our customized technology solutions are designed to help customers effectively manage risk, improve their technology performance and allow them to focus on their core business objectives. DataBank is headquartered in the historic former Federal Reserve Bank Building, in downtown Dallas, TX. For additional information on DataBank locations and services, please visit www.databank.com or call 1(800) 840-7533.
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.
About C7 Data Centers
C7 Data Centers is a privately held Utah company with data centers exclusively in Utah. The company is focused on providing state-of-the-art, high value and high-density multi-tenant data centers, delivering cloud, production, and disaster recovery solutions to local, national and international businesses. C7 is the largest data center provider in the State of Utah and is backed by Salt Lake City based Signal Peak Ventures. ###