The Globe and Mail reports in its Thursday edition that Brookfield Infrastructure Partners is buying almost all of the assets of data centre company Cyxtera Technologies out of bankruptcy for $775-million, bulking up in anticipation of rising demand for data storage as artificial intelligence and cloud computing expand (all figures U.S.). The Globe's James Bradshaw writes that in addition to the asset purchase, supervised by a U.S. court, Brookfield's infrastructure arm is also buying up the real estate where seven Cyxtera data centres are located from Digital Realty Trust Inc. and Digital Core REIT, bringing the total purchase price to $1.3-billion. Brookfield plans to combine the Cyxtera assets with a company it already owns, Evoque Data Center Solutions, to reduce overhead and financing costs. The combined entity joins a $11-billion data centre portfolio that includes two other notable acquisitions that Brookfield recently closed: Data4, which is based in France, and Dallas-based Compass Datacenters, which Brookfield bought with Ontario Teachers' Pension Plan. Cyxtera filed for bankruptcy in June as it struggled to pay down debt and raise new financing, two years after the company went public valued at $3.4-billion.
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