The facilities are located in North Carolina and New Jersey.
CyrusOne Inc. has announced the execution of a definitive agreement to purchase two enterprise-class data centers (collectively, the "facilities") located in Raleigh-Durham, North Carolina and Somerset, New Jersey from Sentinel Data Centers ("Sentinel"). The total purchase price is $490 million, excluding transaction-related expenses. This represents a multiple of approximately 14.4 times pro forma run-rate annualized EBITDA of approximately $34 million.
"We are very excited about this transaction, which establishes a presence for us in the Southeast, adds a high quality portfolio of large enterprise customers, and features an attractive long-term lease profile," said Gary Wojtaszek, president and chief executive officer of CyrusOne. "We respect the work of the Sentinel founders. Their focus on great facilities and personalized customer service matches ours. The transaction is expected to be immediately accretive and provides significant opportunities to grow the combined business and create value for our shareholders."