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Blackstone to Buy Data Center Operator QTS for 21 Percent Premium
The deal values the company, which operates more than 7 million square feet of data center space, at roughly $10 billion.
Bloomberg
June 7, 2021
1 Min Read
Aerial view of QTS's Richmond, Virginia, data center, which used to be a Qimonda semiconductor fabrication facility.QTS/YouTube
Prashant Gopal (Bloomberg) -- Blackstone Group Inc. has agreed to acquire data center operator QTS Realty Trust Inc. in a deal valued at roughly $10 billion.
Blackstone Infrastructure Partners and BREIT, the private equity firm’s nontraded real estate investment trust, have agreed to pay $78 a share for QTS, according to a statement Monday. The price represents a 21% premium to the closing share price of QTS on Friday.
Including debt, the transaction is valued at about $10 billion.
QTS operates data centers, with more than than 7 million square feet of space in North America and Europe.
Shares of QTS jumped as high as $78.65 on Monday in New York. The stock had gained 4.2% this year through Friday, when it closed at $64.49.
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