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New Deal


Announced

Completed

Cyxtera Technologies went public via a SPAC merger with Starboard Value Acquisition in a $3.4bn deal.

Financials

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Transaction Value£2,425m
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales4.9x
EV/EBITDA15.95x
Share Price Premium-
One Off Charge-

Tags

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Private

retail colocation and interconnection

Single Bidder

Merger

Reverse Takeover

Domestic

Majority

Friendly

IT Services: Other

United States

Private Equity

De-SPAC

Completed

Synopsis

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Cyxtera Technologies, a retail colocation and interconnection services company, went public via a SPAC merger with Starboard Value Acquisition in a $3.4bn deal. The PIPE included commitments from investors including Fidelity Management & Research Company, and clients of Starboard. "Having completed our merger with SVAC, we now can accelerate our plans to drive high-margin growth through increased utilization of our existing assets, development of innovative product offerings, and expansion of our global footprint. We look forward to leveraging our data center platform and our experience in successfully operating a publicly traded data center company to create long-term shareholder value,” Nelson Fonseca, Cyxtera CEO.

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