Thursday, May 13, 2010
CyrusOne Acquired By Cincinnati Bell For $525M
Houston-based data center operator CyrusOne is being acquired by Cincinnati Bell and ABRY Partners, in a deal worth $525M, Cincinnati Bell announced late Wednesday. According to Cincinnati Bell, the all-cash deal will make CyrusOne a wholly-owned subsidiary of the firm. CyrusOne will continue to operate under its own brand and existing executive management team. CyrusOne owns seven data centers in Houston, Dallas, and Austin. Cincinnati Bell reported that for the year of 2009, CyrusOne had revenues of $58M, and is expected to have revenues of $73M, operating income of $27M, and adjusted EBITDA of $42M in 2010.