Starboard SPAC nears $3.4 bln merger deal for Cyxtera - WSJ (updated)

Cyxtera Technologies

22/02/2021 02:07

(Adds details from report, background)
    Feb 21 (Reuters) - Starboard Value Acquisition Corp's
 SVAC.O  special-purpose acquisition company is discussing a
merger deal with Cyxtera Technologies Inc that would value the
data-center provider at around $3.4 billion including debt, the
Wall Street Journal reported https://www.wsj.com/articles/starboard-spac-nears-3-4-billion-deal-for-data-center-company-cyxtera-11613955601?mod=latest_headlines
 on Sunday.
    Cyxtera's existing owners, including private-equity firms BC
Partners and Medina Capital, are planning to roll their equity
stakes into the combined firm, the report said, citing people
familiar with the matter.
     The deal could be finalized by Monday, assuming the talks
don't fall apart, the report said. 
    Starboard and Cyxtera did not immediately respond to Reuters
requests for comments. 
    The SPAC raised $360 million when it went public in
September last year. 
    Miami-based Cyxtera has more than 60 data centers providing
services to thousands of enterprises and U.S. federal government
agencies, according to the company's website. 
    Cyxtera's 2020 revenue stood at around $690 million, WSJ
reported citing sources.     
    

 (Reporting by Maria Ponnezhath and Aishwarya Nair in Bengaluru;
Editing by Vinay Dwivedi)
 ((Maria.Ponnezhath@thomsonreuters.com; +91 8061822749;))