VANTAGE’S THIRD ACQUISITION THIS YEAR
Hyperscale data center provider Vantage Data Centers, has announced its acquisition of the hyperscale data center business from Hypertec in Montreal, Canada.
Hypertec, a cloud infrastructure services provider, had a campus in Montreal with a total capacity of 49MW, this includes 25MW across two existing facilities and 24MW of expansion capacity. The acquired campus is located about two miles from Vantage’s existing 11MW campus in Montreal, and sits on a 10 acre site which is expected to house up to 320,000 square feet of data center facilities once fully developed.
“The acquisition of Hypertec enables Vantage to continue capitalizing on Montreal’s hyperscale growth given its access to scalable renewable energy, attractive power costs, tax incentives and robust fiber connectivity,” said Sureel Choksi, president and CEO, Vantage Data Centers.
“Since entering the Canadian market in early 2019, Vantage has invested heavily in the region. We have been very impressed by the Hypertec data center team and are excited to welcome them to Vantage.”
This acquisition expands Vantage Data Centers’ total footprint in the Province of Quebec to 81MW of IT capacity across three campuses. Vantage further stated that it will immediately begin construction of a third facility to complete the acquired campus.
“This transaction is an important strategic move for Hypertec as we look to further focus our resources and capital on propelling our fast growing core technology product and services businesses forward, as well as on growing new verticals.” said Jonathan Ahdoot, Hypertec’s chief commercial officer.
“This deal also provides our data center business unit the opportunity to grow and scale more quickly as part of Vantage’s global platform. We are confident that our colocation customers are in good hands with a company known for its remarkable customer service and operational excellence.”
The transaction was funded with equity commitments from Digital Colony and other existing Vantage investors, as well as acquisition debt financing. Also, Hypertec data center team has now joined Vantage.