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April 28, 2015

Is Telx looking to sell for $2bn? – Reuters

ABRY Partners and Berkshire Partners reportedly in talks to sell Telx.

By

Telx, a provider of data centres and network solutions, is reportedly planning to put itself up for sale, according to a Reuters exclusive.

A $2bn price tag is being looked at according to sources familiar with the matter, with the price including debt.

Telx’s owners, ABRY Partners LLC and Berkshire Partners LLC, have reportedly interviewed investment banks in recent weeks to appoint financial advisers that will help run the auction, according to people familiar with the matter.

New York-based Telx manages 1.3 million sq ft of data centre space and more than 50,000 network connections within 20 data centres, including three major ones in New York City.

Reuters highlighted how theis news from Telx follows recent sales of similar companies. Latysis was acquired last February for $675 million by ZAYO.O, while AT&T has been pursuing a sale of its data centres worth $2 billion.

This week, Lightower Fiber Networks purchased Fibertech Networks from Court Square Networks for $1.9 billion.

 

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