A new SPAC has raised $250 million in its IPO and is seeking to acquire companies in the digital infrastructure industry. InterPrivate IV InfraTech Partners Inc. is led by CEO Kevin Timmons, who previously led data center developments teams at Microsoft and CyrusOne.
SPACs could provide a quicker route to the public securities markets for privately-held companies in the digital infrastructure sector. We take a closer look at Cyxtera’s acquisition by the Starboard Value SPAC, and what comes next.
Cyxtera Technologies will become a public company through a merger with a SPAC sponsored by Starboard Value. The deal, which values Cyxtera at $3.4 billion marks the first major deal by a group of SPACs targeting the data center sector.
More data center mergers and acquisitions (M&A) appear likely amid reports of two new special purpose acquisition corporations (SPACs) featuring teams of data center executives. Meanwhile, the industry’s busiest consolidator is raising a huge new round of capital.