CyrusOne partners with ODATA amid LATAM expansion plans
CyrusOne is making a $12 million investment in exchange for a 10% equity interest in ODATA Brasil S.A. and ODATA Colombia S.A.S. (ODATA).
ODATA, which is majority-owned by Patria Infrastructure Fund III, presently has over 12MW of capacity with plans to develop over 100MW in Brazil, and is set to launch construction in Colombia.
Brazil is the largest and fastest-growing data centre market in Latin America and ODATA is well positioned to capture much of this growth and serving the needs of hyperscale cloud companies.
“We are excited to partner with Patria and the ODATA team as they scale their business throughout Latin America,” said Gary Wojtaszek, president and chief executive officer of CyrusOne.
“To date, Brazil and other LATAM markets have largely been served by a limited number of providers, leading to few options and high costs for our customers. The combination of our collective resources will form the basis of a powerful platform from which we can better serve these customers’ increasingly global needs.”
It’s been an eventful year for CyrusOne which has seen:
In connection with this investment, CyrusOne and ODATA entered a commercial agreement covering leasing activity with CyrusOne customers in the ODATA portfolio. In addition, Kevin Timmons, CyrusOne’s chief technology officer, will join the ODATA board of directors.
Wojtaszek added: “Through Patria, which holds a number of investments across the communications infrastructure space, customers in ODATA’s facilities will have access to both dark fibre and lit services via Vogel Telecom, another portfolio company. At the same time, we will work with ODATA, helping the company build a scalable platform that can deliver high quality facilities at the lowest cost.”
“We are thrilled with the investment and endorsement by CyrusOne, and we look forward to working with their team as we scale the business,” said Ricardo Alario, chief executive officer of ODATA. “CyrusOne is a leader and innovator in the data centre industry, and their design and construction expertise will be valuable in delivering timely, cost-efficient builds to hyperscale companies.”
CyrusOne will provide further details on its Q3 earnings call scheduled for October 31, 2018.