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Cyxtera To Go Public At $3.4B Valuation Through SPAC Merger
Cyxtera was formed in 2017 through the merger of 57 data centers owned by CenturyLink with four cybersecurity and data analytics companies. Now, after spinning out a secure access vendor and generating an estimated $690 million in 2020 revenue, the company is set to go public. By Dylan Martin February 22, 2021, 11:23 AM EST
Data center colocation provider Cyxtera Technologies plans to go public at a $3.4 billion valuation through a merger with a special purpose acquisition company, an increasingly popular way for companies to become publicly traded.
The Coral Gables, Fla.-based company said Monday that it has entered into a definitive agreement to merge with Starboard Value Acquisition Corp., a publicly traded special purpose acquisition company, or SPAC, as they are more commonly known. The company operates 61 data centers across 29 markets worldwide and counts more than 2,300 enterp