Monday 21 October 2019

Khaled Al Qubaisi

Mubadala to invest $500m in top US data center firm

ABU DHABI, 27 days ago

Mubadala Investment Company, the Abu Dhabi-based global investment firm, has signed an agreement to invest up to $500 million in Cologix, the network-neutral interconnection and hyperscale edge data center company.
The transaction, which is subject to various regulatory approvals, will provide significant investment for Cologix for growth in the data center markets of US and Canada. Over the years, Cologix has built a leading position for hyperscale and colocation data center services in its markets. The investment will enable new world-class infrastructure expansion to manage the growing needs of data center customers. 
Mubadala’s investment is in partnership with Stonepeak Infrastructure Partners, which will remain the majority shareholder in Cologix. The partnership will see the two investment companies collaborate to support Cologix’s ambitious growth strategy, a statement said.
Khaled Al Qubaisi, CEO of Mubadala Aerospace, Renewables and ICT, commented: “As a global investor, we continue to look closely at opportunities in sectors such as ICT which are rapidly transforming the world. Our philosophy remains founded on investing in innovative businesses with long-term growth potential and market leadership positions. As Abu Dhabi evolves into a global technology and ICT hub, we will continue to invest in partnerships which will unlock immense benefits for all our stakeholders.”
Mounir Barakat, executive director of Mubadala ICT, added: “This investment marks an important milestone for Mubadala’s ICT business. Cologix is a high-quality company with robust fundamentals in an industry that is growing rapidly and positively impacting the lives of millions of people every day. 
“In Cologix, we are investing in a company that has a clear strategy to build upon its existing market leading position, and one that is led by an excellent management team with which to implement that strategy.”
Cologix is a recognised industry leader with a strong portfolio of clients that underpin its ability to scale growth exponentially. In addition, with the continued deployment of cloud services, the data center industry is experiencing continued growth that Cologix is well placed to capitalise on.
Brian McMullen, senior managing director, Stonepeak Infrastructure Partners, commented: “As a global strategic investor with deep expertise in the data center market, Mubadala can add real value to the business. We’re pleased to have entered into this partnership which will see significant growth capital injected into the company and enable Cologix to reach new milestones in its growth trajectory."
“Cologix has built a leadership position in the hyperscale, colocation and interconnection sector of this fast-growing industry across North America,” stated Bill Fathers, chairman and chief executive officer. “We have ambitious plans for the future and by partnering with Mubadala we have additional growth capital that will enable us to get to the next level, build on an existing foundation of great clients, innovative technology and strong leadership.”
Cologix provides reliable, secure, scalable hyperscale edge data center solutions from 28 prime interconnection hubs and five hyperscale facilities across 10 strategic North American markets. The facilities enable the efficient interconnection and operation of 450+ networks, six internet exchanges and 200+ cloud providers including Amazon Web Services, Google Cloud Platform, Oracle Cloud, Windows Azure, and IBM Cloud. Cologix also provides colocation and connectivity services for large, Fortune 500 enterprise customers.
Mubadala’s ICT portfolio includes investments in Hyperoptic, the UK’s largest gigabit broadband provider, Khazna Data Centers, Injazat Data Systems, Du – the UAE’s second largest telecoms operator, and Yahsat, a satellite communications company. - TradeArabia News Service 


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