TierPoint, which operates 141,000 square feet of raised-floor data center space across 7 U.S. cities, announced its acquisition of Xand, a privately-held provider of colocation, cloud, disaster recovery and managed services with six data centers located in New York, Pennsylvania, Connecticut, and Massachusetts. Xand was owned by ABRY Partners. Financial terms were not disclosed.
The combined company will operate 13 highly-redundant, Tier III plus data centers in 10 markets with almost 300,000 square feet of raised floor, serving approximately 3,700 customers.
TierPoint and Xand share a common cloud infrastructure supported by Cisco, NetApp, and Fortinet.
The acquisition is being funded through a combination of incremental equity from TierPoint's existing investors as well as a new investor, Ontario Teachers' Pension Plan (Teachers'), Canada's largest single-profession pension plan with more than $140 billion in net assets. Its investment was led by Teachers' Private Capital, which manages a global private equity portfolio valued at approximately $14 billion. TierPoint's current investment group includes Cequel III management led by Chairman Jerry Kent, RedBird Capital Partners, The Stephens Group, Jordan/Zalaznick Advisers, Inc., and Thompson Street Capital Partners.
http://www.tierpoint.com/company/news/tierpoint-agrees-acquire-xand/
