CyrusOne
| File:CyrusOne logo.svg | |
| Company type | Private |
|---|---|
| Founded | July 2000 |
| Founder | David Ferdman Larry Bursten |
| Headquarters | Dallas, Texas |
Key people | Alex Shumate (chairman) Eric Schwartz (CEO and president) Owen Morris (CFO) |
| Products | Data centers |
| Owner | Funds managed by Kohlberg Kravis Roberts and Global Infrastructure Partners |
| Website | cyrusone |
CyrusOne, Inc. manages and operates a network of more than 40 carrier-neutral data center facilities located throughout North America, Europe, and Asia, providing services such as colocation and peering. Headquartered in Dallas, Texas, ownership resides with investment funds overseen by Kohlberg Kravis Roberts and Global Infrastructure Partners.
History
Established in July 2000 by entrepreneurs David Ferdman and Larry Bursten—who initially connected through ventures acquired by IXC Communications—CyrusOne has expanded its operations through targeted acquisitions and facility growth.
In July 2007, ABRY Partners took ownership of the company, which was subsequently purchased by Cincinnati Bell for $525 million in June 2010.
The company's physical presence grew substantially with key real estate acquisitions: securing 55.9 acres in Chandler, Arizona in 2011; inaugurating the largest data center in Texas located in Carrollton in 2012; and acquiring land in Loudoun County, Virginia in 2016.
CyrusOne transitioned to a public company with an initial public offering (IPO) in January 2013. Cincinnati Bell gradually reduced its holdings, fully divesting by 2015.
Significant acquisitions include the $400 million purchase of Cervalis in July 2015; the $442 million acquisition of Zenium Data Centers, which included facilities in London and Frankfurt, completed in August 2017; and a $130 million leaseback acquisition of a CME Group data center in Aurora, Illinois finalized in March 2016.
In December 2019, CyrusOne faced a ransomware incident impacting six client accounts, highlighting ongoing cybersecurity risks within the data center industry.
Leadership changes involved Tesh Durvasula assuming the roles of CEO and president in February 2020, followed by co-founder David Ferdman returning as interim CEO in July 2021.
In March 2022, CyrusOne sold its Houston-based assets for $670 million before being acquired for $15 billion by Kohlberg Kravis Roberts and Global Infrastructure Partners—an event marking a pivotal development in its corporate evolution and expansion strategy.
External links
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- United States real estate firms
- Maryland establishments in 2001
- Mergers and acquisitions in 2007
- Mergers and acquisitions in 2010
- Initial public offerings in 2013
- Mergers and acquisitions in 2022
- American enterprises founded in 2001
- Real estate firms founded in 2001
- Cincinnati Bell
- Companies headquartered in Dallas
- Former Nasdaq-listed companies
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- Data center operators
- Companies owned by Kohlberg Kravis Roberts
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- Companies of the United States by year of establishment
- American companies established in 2001