Starboard to combine with PE-backed Cyxtera in $3.4B deal
February 23, 2021
Blank-check company Starboard Value Acquisition has agreed to merge with Cyxtera and take the Florida-based business public. The deal reportedly values the provider of retail co-location and interconnectivity services at around $3.4 billion. BC Partners and Medina Capital launched Cyxtera in 2017 when they acquired the data center and co-location business of Lumen Technologies in a deal worth around $2.8 billion.