Lumos Networks Closes On The Acquisition Of DC74 Data Centers
Enhances recently announced North Carolina market with three data centers in the high growth Charlotte market.
Lumos Networks Corp. has announced that it has simultaneously signed and closed a transaction to acquire Charlotte, North Carolina-based DC74 Data Centers (“DC74”). Under the terms of the agreement, Lumos will acquire DC74 for a total cash consideration of $23.5 -$28.5 million, depending on future growth earn-out projections, implying a multiple of approximately 8-10x Adjusted EBITDA in 2016.