CyrusOne announced its agreement to purchase Zenium Data Centers, a hyperscale data center provider in Europe with four properties in London and Frankfurt, for $442 million.
The purchase amount is reflecting a multiple of 18 times expected annualized Adjusted EBITDA of approximately $25 million from both commenced and signed but not yet billing leases. CyrusOne will also reimburse Zenium for capital expenditures between signing and closing.
“This transaction establishes a significant presence for us in Europe’s two largest data center markets and provides a platform to scale to meet the strong demand across the continent,” said Gary Wojtaszek, president and chief executive officer of CyrusOne.
Franek Sodzawiczny is the founder and chief executive officer of Zenium Data Centers.
Zenium has approximately $40 million in annualized contracted revenue, excluding estimates for pass-through power, representing $25 million in expected annualized Adjusted EBITDA. All signed contracts will have commenced by year-end 2018.
