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Mubadala invests in Cologix

Mubadala invests in Cologix

By Staff Report

Published: Mon 23 Sep 2019, 6:05 PM

Last updated: Mon 23 Sep 2019, 8:07 PM

Mubadala Investment Company, the Abu Dhabi-based global investment firm, has announced that it has signed an agreement to invest up to $500 million in Cologix, the network-neutral interconnection and hyperscale edge data center company, subject to various regulatory approvals.
The transaction will provide significant investment for Cologix for growth in both the US and Canada's data center markets. Over the years, Cologix has built a leading position for hyperscale and colocation data center services in its markets. The investment will enable new world-class infrastructure expansion to manage the growing needs of data center customers. Mubadala's investment is in partnership with Stonepeak Infrastructure Partners, which will remain the majority shareholder in Cologix. The partnership will see the two investment companies collaborate to support Cologix's ambitious growth strategy.
Khaled Al Qubaisi, CEO of Mubadala Aerospace, Renewables and ICT, said: "As a global investor, we continue to look closely at opportunities in sectors such as ICT which are rapidly transforming the world. Our philosophy remains founded on investing in innovative businesses with long-term growth potential and market leadership positions. As Abu Dhabi evolves into a global technology and ICT hub, we will continue to invest in partnerships which will unlock immense benefits for all our stakeholders."
Mounir Barakat, executive director of Mubadala ICT, added: "This investment marks an important milestone for Mubadala's ICT business. Cologix is a high-quality company with robust fundamentals in an industry that is growing rapidly and positively impacting the lives of millions of people every day. In Cologix, we are investing in a company that has a clear strategy to build upon its existing market leading position, and one that is led by an excellent management team with which to implement that strategy."
Brian McMullen, senior managing director, Stonepeak Infrastructure Partners, said: "As a global strategic investor with deep expertise in the data center market, Mubadala can add real value to the business. We're pleased to have entered into this partnership which will see significant growth capital injected into the company and enable Cologix to reach new milestones in its growth trajectory."
- business@khaleejtimes.com

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