Cyxtera Technologies Company Profile

Background

Overview

Cyxtera Technologies, established in 2017, is a global leader in data center colocation and interconnection services. The company was formed through the acquisition of CenturyLink's data center and colocation business, combined with Medina Capital's cybersecurity and data analytics portfolio. Headquartered in Coral Gables, Florida, Cyxtera operates over 60 data centers across North America, Europe, and Asia, serving more than 3,500 enterprises, government agencies, and service providers.

Mission and Vision

Cyxtera's mission is to provide secure, scalable, and resilient infrastructure solutions that enable businesses to accelerate digital transformation and meet evolving IT demands. The company's vision is to be the most trusted partner for enterprises seeking reliable and innovative data center services.

Primary Area of Focus

Cyxtera specializes in offering colocation services, interconnection solutions, and digital infrastructure platforms. These services are designed to support critical applications and systems, ensuring high performance, security, and compliance for its diverse clientele.

Industry Significance

As a prominent player in the data center industry, Cyxtera contributes significantly to the global digital infrastructure landscape. Its extensive network of data centers and comprehensive service offerings position it as a key enabler of enterprise IT strategies, particularly in the realms of hybrid IT and cloud connectivity.

Key Strategic Focus

Core Objectives

• Expansion of Global Footprint: Cyxtera aims to broaden its presence in key markets worldwide, enhancing its ability to serve a diverse customer base.

• Innovation in Service Offerings: The company focuses on developing and deploying innovative solutions that address the evolving needs of modern enterprises.

• Operational Excellence: Ensuring high standards of reliability, security, and compliance across all data center facilities is a central objective.

Specific Areas of Specialization

• Colocation Services: Providing secure and scalable space for clients to house their IT infrastructure.

• Interconnection Solutions: Facilitating seamless connectivity between clients and a broad ecosystem of service providers.

• Digital Infrastructure Platforms: Offering platforms that support hybrid IT environments, enabling efficient management of both on-premises and cloud-based resources.

Key Technologies Utilized

• Software-Defined Networking (SDN): Enhancing network agility and scalability within data centers.

• Advanced Security Protocols: Implementing robust security measures to protect client data and ensure compliance with industry standards.

• Cloud Connectivity Solutions: Providing direct and secure connections to major cloud service providers, facilitating hybrid cloud strategies.

Primary Markets Targeted

• Enterprises: Supporting large organizations with complex IT infrastructure needs.

• Government Agencies: Offering secure and compliant solutions for public sector entities.

• Service Providers: Enabling connectivity and infrastructure solutions for telecommunications and cloud service providers.

Financials and Funding

Funding History

• 2017: Cyxtera was formed through a $2.8 billion transaction, which included the acquisition of CenturyLink's data center and colocation business and Medina Capital's cybersecurity and data analytics portfolio.

• 2021: The company went public via a merger with Starboard Value Acquisition Corp., a special purpose acquisition company (SPAC), valuing Cyxtera at approximately $3.4 billion.

• 2023: Facing financial challenges, Cyxtera filed for Chapter 11 bankruptcy in June 2023. In November 2023, Brookfield Infrastructure Partners agreed to acquire substantially all of Cyxtera's assets for $775 million, with the acquisition completed in January 2024.

Recent Funding Rounds

• 2021 SPAC Merger: The merger with Starboard Value Acquisition Corp. provided Cyxtera with approximately $654 million in proceeds, primarily used to pay down existing debt.

• 2023 Acquisition by Brookfield: Brookfield Infrastructure Partners acquired Cyxtera's assets for $775 million, marking a significant restructuring and financial turnaround for the company.

Notable Investors

• BC Partners: A private equity firm that played a significant role in Cyxtera's formation and initial funding.

• Medina Capital: Provided cybersecurity and data analytics assets, contributing to Cyxtera's comprehensive service offerings.

• Brookfield Infrastructure Partners: Acquired Cyxtera's assets in 2024, integrating them into its global data center platform.

Utilization of Capital

• Debt Reduction: Proceeds from the 2021 SPAC merger were primarily allocated to reduce existing debt, improving the company's financial stability.

• Operational Expansion: Capital from the 2023 acquisition by Brookfield is expected to support the expansion and enhancement of Cyxtera's data center facilities and service offerings.

Pipeline Development

Key Pipeline Candidates

As of January 2026, Cyxtera has been rebranded as Centersquare following its acquisition by Brookfield Infrastructure Partners. The company continues to operate and expand its data center facilities under this new identity.

Stages of Development

• Operational Integration: Post-acquisition, Centersquare is focused on integrating Cyxtera's assets into Brookfield's global data center platform.

• Service Expansion: The company is working on expanding its service offerings to meet the growing demands of its diverse clientele.

Target Conditions

Centersquare aims to provide secure and scalable infrastructure solutions to enterprises, government agencies, and service providers, supporting their digital transformation and IT infrastructure needs.

Anticipated Milestones

• Facility Upgrades: Enhancing existing data center facilities to improve capacity and service quality.

• Service Diversification: Introducing new services and solutions to address emerging market needs.

Technological Platform and Innovation

Proprietary Technologies

• CXD Platform: A software-defined network solution that enhances network agility and scalability within data centers.

Significant Scientific Methods

• Advanced Security Protocols: Implementing robust security measures to protect client data and ensure compliance with industry standards.

• Cloud Connectivity Solutions: Providing direct and secure connections to major cloud service providers, facilitating hybrid cloud strategies.

Leadership Team

Executive Profiles

• Udhay Mathialagan: Chairman of the Board at Centersquare and CEO, Global Data Centers for Brookfield Infrastructure.

• Spencer Mullee: CEO of Centersquare, leading the combined entity formed from Evoque and Cyxtera.

Professional Backgrounds

• Udhay Mathialagan: Brings extensive experience in global data center operations and infrastructure management, having held leadership roles within Brookfield Infrastructure.

• Spencer Mullee: Former CEO of Evoque Data Center Solutions, now leading Centersquare, focusing on integrating and expanding the combined data center portfolio.

Key Contributions

• Udhay Mathialagan: Overseeing the strategic direction and operational integration of Centersquare's global data center platform.

• Spencer Mullee: Driving the growth and innovation of Centersquare's service offerings, ensuring alignment with market demands and customer needs.

Competitor Profile

Market Insights and Dynamics

The data center industry is characterized by rapid growth, driven by increasing digitalization and the need for secure, scalable infrastructure. Key trends include the rise of hybrid IT environments, edge computing, and the growing importance of data sovereignty.

Competitor Analysis

• Digital Realty: A leading global data center provider with a vast network of facilities and a strong market presence.

• Equinix: Renowned for its extensive interconnection services and global reach, serving a diverse clientele.

• CoreSite: Focuses on high-performance connectivity solutions, operating across major U.S. metropolitan areas.

• CyrusOne: Provides secure and reliable IT infrastructure solutions, operating over 50 data centers globally.

Strategic Collaborations and Partnerships

Centersquare continues to leverage strategic partnerships to enhance its service offerings and expand its market reach.