CyrusOne explained

CyrusOne
Type:Privately held company
Founder:David Ferdman
Larry Bursten
Location:Dallas, Texas
Products:Data centers
Owner:Funds managed by Kohlberg Kravis Roberts and Global Infrastructure Partners
Footnotes:[1]

CyrusOne owns and operates over 40 carrier-neutral data centers in North America, Europe, and Asia, where it provides colocation and peering services.[2] It is headquartered in Dallas, Texas and is owned by funds managed by Kohlberg Kravis Roberts and Global Infrastructure Partners.

History

The company was formed in July 2000 by David Ferdman and Larry Bursten, who met when companies they founded were acquired by IXC Communications.[3]

In July 2007, the company was acquired by ABRY Partners.[4]

In June 2010, the company was acquired by Cincinnati Bell for $525 million.[5] [6]

In September 2011, the company acquired 55.9 acres in Chandler, Arizona for construction of a data center facility.[7]

In January 2013, the company became a public company via an initial public offering.[8]

By 2015, Cincinnati Bell had sold almost its entire stake in the company.[9]

In July 2015, the company acquired Cervalis for approximately $400 million.[10]

In March 2016, the company acquired a data center of CME Group in Aurora, Illinois for $130 million in a leaseback transaction.[11] [12] In December 2016, the company broke ground on a 425,000 square foot data center on the property.[13]

In June 2016, the company purchased a 40-acre parcel in Loudoun County, Virginia.[14]

In August 2017, the company acquired Zenium Data Centers, a provider with data centers in London and Frankfurt, for $442 million.[15]

In December 2019, the company suffered from a REvil ransomware attack that affected 6 of its customers.[16] [17]

In February 2020, Tesh Durvasula was appointed president and chief executive officer of the company.[18]

In July 2021, David Ferdman, the co-founder and former CEO, was appointed interim president and chief executive officer of the company.[19]

In March 2022, the company sold its assets in Houston for $670 million.[20]

Also in March 2022, the company was acquired by Kohlberg Kravis Roberts and Global Infrastructure Partners for $15 billion.[21]

Notes and References

  1. Web site: Leadership . CyrusOne.
  2. Web site: About CyrusOne . CyrusOne.
  3. News: Data centers rising to meet demand . Jennifer . Darwin . . July 2, 2001.
  4. News: CyrusOne set for more growth after acquisition by Abry Partners . . July 11, 2007.
  5. News: Cincinnati Bell completes CyrusOne buy . . June 11, 2010.
  6. News: Cincinnati Bell to acquire CyrusOne in Texas . . May 13, 2010.
  7. News: CyrusOne forced to take action following noise complaints in Chandler, Arizona . Tanwen . Dawn-Hiscox . Data Center Dynamics . April 16, 2018.
  8. CyrusOne Inc. Announces Pricing of Initial Public Offering . . January 17, 2013.
  9. News: Cincinnati Bell sells off third major block of CyrusOne holdings . Andy . Brownfield . . June 24, 2015.
  10. CyrusOne Announces Closing Of Cervalis Acquisition . . July 1, 2015.
  11. CME Group Announces Agreement to Sell Aurora, Ill. Data Center to CyrusOne . . March 15, 2016.
  12. News: CyrusOne Plans Huge Expansion at CME Data Center Campus in Chicago . Bill . Stoller . Data Center Knowledge . May 9, 2016.
  13. News: CyrusOne Begins Construction on Second Data Center in Chicago Suburb . Kristin . Hiller . RE Business Online . December 1, 2016.
  14. Global Data Center Provider CyrusOne Purchases 40 Acres in Northern Virginia . . June 14, 2016.
  15. CyrusOne Inc. Announces Closing of Zenium Acquisition . . August 27, 2018.
  16. News: Ransomware attack hits major US data center provider . Catalin . Cimpanu . . December 4, 2019.
  17. News: CyrusOne Ransomware Attack Whacks Six Managed Service Clients . Michael . Novinson . . December 5, 2019.
  18. CyrusOne Announces CEO Transition . . February 20, 2020.
  19. CyrusOne Announces CEO Transition . . July 28, 2021.
  20. CyrusOne Closes Houston Asset Divestiture . . March 3, 2022.
  21. KKR and GIP Complete Acquisition of CyrusOne . . March 25, 2022.