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Mon 23 Sep 2019 03:26 PM

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UAE's Mubadala says to invest up to $500m in US data centres firm

Abu Dhabi-based Mubadala Investment Company has signed an agreement to invest up to $500m in Cologix

UAE's Mubadala says to invest up to $500m in US data centres firm
Cologix provides reliable, secure, scalable hyperscale edge data centre solutions from 28 prime interconnection hubs and five hyperscale facilities across 10 North American markets.

Abu Dhabi-based Mubadala Investment Company on Monday announced that it has signed an agreement to invest up to $500 million in Cologix, the data centre company, subject to regulatory approvals.

The company said the transaction will provide significant investment for Cologix for growth in both the United States and Canada.

It added that Cologix has built a leading position for hyperscale and colocation data centre services in its markets. The investment will enable new world-class infrastructure expansion to manage the growing needs of data centre customers.

Mubadala’s investment is in partnership with Stonepeak Infrastructure Partners, which will remain the majority shareholder in Cologix.

Khaled Al Qubaisi, CEO of Mubadala Aerospace, Renewables and ICT, said: “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 provides reliable, secure, scalable hyperscale edge data centre solutions from 28 prime interconnection hubs and five hyperscale facilities across 10 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.

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