Cyxtera Technologies To Go Public In $3.4B SPAC Merger

By Nathan Hale (February 22, 2021, 4:52 PM EST) -- Miami-based data center provider Cyxtera Technologies Inc. has entered into an agreement to merge with publicly traded blank-check company Starboard Value Acquisition Corp. in a deal valued at $3.4 billion with the aims of accelerating Cyxtera's growth, the companies announced Monday.

Cyxtera, which is headed by Miami businessman Manuel D. Medina, is currently the largest privately held data center provider for global retail colocation — the practice of renting out space to house clients' servers and networking equipment. With 61 data centers in 29 global markets serving more than 2,300 clients, its current footprint will make the combined company the third-largest publicly...

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