Brookfield Infrastructure Partners L.P. (TSX: BIP.UN; NYSE: BIP) has closed previously announced acquisition of AT&T Inc (NYSE: T)’s data center colocation operations and assets for US $1.1 billion. The acquisition, as in most of Brookfield’s acquisitions, was made in partnership with its institutional partners.
The transaction was previously announced in June 2018.
Brookfield has established a wholly owned company, Evoque Data Center Solutions, to own and operate the assets.
Led by incoming CEO Tim Caulfield, Evoque Data Center Solutions will continue to deliver colocation services to customers in 18 Internet Data Centers (IDCs) in the United States and 13 outside the United States. The colocation data center operations serve a diversified customer base of more than 1,000 companies across the technology, financial, industrial, media retail and other sectors worldwide.
photo credit: AT&T
AT&T Closes Sale of Data Center Colocation Operations and Assets to Brookfield Infrastructure
AT&T Inc.* announced today that it has completed the sale of its data center colocation operations and assets to Brookfield Infrastructure and its institutional partners (“Brookfield”). The company previously announced a strategic alliance with Brookfield that included the transfer of these operations and assets.
Brookfield has established a wholly owned company, Evoque Data Center Solutions™ (“Evoque”), to own and operate the assets. Customer contracts, employees supporting the colocation operations, fixed assets, leases and specified owned facilities have been transferred to Brookfield.
Evoque joins AT&T’s global colocation ecosystem program where AT&T will offer Evoque’s colocation services to business customers. The ecosystem program offers business customers access to 350+ data centers around the world.
Under the terms of the deal, AT&T has received $1.1 billion, which will support the company’s goal of reducing its net-debt-to-EBITDA-ratio to the 2.5x range by the end of 2019.
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