CenturyLink has sold its data centers and associated colocation business to a consortium led by BC Partners and Medina Capital Advisors. CenturyLink has sold its data centres and associated colocation business to a consortium led by BC Partners and Medina Capital Advisors. Under the terms of the deal, roughly 700 CenturyLink employees will transition to Cyxtera. On May 2, CenturyLink completed the sale of its data center assets to an investment group that included Medina Capital Advisors and Longview Asset Management, in a newly formed company called Cyxtera. All Rights Reserved. Additionally, our hosting and cloud services, combined with our robust IT services and solutions, offer customers an impressive suite of complementary services.” You should be aware that new factors may emerge from time to time and it is not possible for us to identify all such factors nor can we predict the impact of each such factor on the transaction. These forward-looking statements are subject to a number of risks, uncertainties and assumptions, many of which are beyond our control. This move led to the creation of a bold, new company, Cyxtera Technologies, comprised of world-class talent and technology. CenturyLink has completed the previously announced sale of its data center and colocation business to a consortium led by BC Partners and including Medina Capital Advisors and Longview Asset Management.With the $2.3 billion sale complete, the business has been combined with Medina Capital’s security and data analytics businesses - including Cryptzone, Catbird, Easy Solutions and Brainspace - and named Cyxtera Technologies.Cyxtera runs 57 data centers, consuming 195 megawatts of power across 2.6 million square feet (241,548 sq m) of raised floor space. I’m delighted to welcome our team, our customers and our partners to Cyxtera.”CenturyLink, which will maintain a 10 percent stake in Cyxtera and has received approximately $1.86 billion of pre-tax net cash proceeds, plans to use the money to help fund its “This sale allows CenturyLink to drive greater focus on our network infrastructure while still having the ability to sell colocation services in these data centers,” Glen Post III, CEO and president of CenturyLink, said.“CenturyLink provides reliable and secure network solutions that are critical to the success of businesses which increasingly rely on digital connections to help ensure the growth and success of their operations. CenturyLink has sold its data centers and associated colocation business to a consortium led by BC Partners and Medina Capital Advisors. Factors that could affect actual results include but are not limited to: the possibility that the anticipated pre-tax or after-tax benefits from the transaction cannot be fully realized in the manner contemplated; changes in CenturyLink's cash requirements or financial condition; the possibility that it may be more difficult than anticipated to segregate CenturyLink's colocation business from its other businesses in connection with the sale; the possibility that CenturyLink might be required to make unanticipated payments under the transaction agreements or otherwise receive less cash proceeds than anticipated; the effects of competition from a wide variety of competitive providers; the purchaser's ability to effectively adjust to changes in the communications industry; possible changes in the demand for, or pricing of, the purchaser's products and services; the purchaser's ability to successfully maintain the quality and profitability of its product and service offerings and to introduce new offerings on a timely and cost-effective basis; the adverse impact on the purchaser's business from possible equipment failures, service outages, security breaches or similar events; adverse changes in the purchaser's access to credit markets on favorable terms; the purchaser's ability to maintain favorable relations with key business partners, suppliers, vendors, landlords and financial institutions; and other risk factors and cautionary statements as detailed from time to time in CenturyLink's reports filed with the U.S. Securities and Exchange Commission. CenturyLink sold its data centers and associated colocation business to a consortium led by BC Partners and Medina Capital Advisors. Actual events and results may differ materially from those anticipated, estimated or projected if one or more of these risks or uncertainties materialize, or if underlying assumptions prove incorrect. CenturyLink has received (i) approximately $1.86 billion of pre-tax net cash proceeds, subject to certain post-closing adjustments, and (ii) an approximately 10% equity stake in the consortium's newly formed global secure infrastructure company, Cyxtera Technologies. Under the terms of the deal, roughly 700 CenturyLink employees will transition to Cyxtera.Manuel Medina, founder and managing partner of Medina Capital, will become Cyxtera’s CEO.He said: “The last two decades have brought seismic changes to enterprise IT availability, agility and scalability, and the next era must be underpinned by a similar revolution in infrastructure security.“I am proud and excited to be working with an all-star team of seasoned professionals with proven success in the fields of IT infrastructure and cybersecurity as we launch a new global platform to help realize this vision, to help our customers operate and secure their critical applications and business systems. CenturyLink closed its data center deal on Tuesday, selling 57 facilities to a consortium of investment firms that have created a new infrastructure company called Cyxtera Technologies.
Unless legally required, CenturyLink undertakes no obligation and expressly disclaims any such obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.CenturyLink completes sale of data centers and colocation business to consortium led by BC Partners and Medina Capital This move led to the creation of a bold, new company, Cyxtera Technologies, comprised of world-class talent and technology. © 2020, CenturyLink.
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