Wednesday, August 8, 2012
CyrusOne Files For IPO
CyrusOne, the data center operator based in Carrollton, Texas, has filed for an IPO, saying in a filing with the SEC that it intends to list as a real estate investment trust (REIT), and will raise up to $300M in its IPO. The company--which operates a large network of data centers--is taking an unusual angle for a technology firm, in that it is transitioning to a REIT, which are used by large real estate firms to reduce the tax income for their investors. The firm said it intends to list itself as CONE. The IPO is being underwritten by Morgan Stanley, BofA Merrill Lynch, Deutsche Bank Securities, and Barclays. CyrusOne is owned by Cincinnati Bell, which acquired CyrusOne from private equity firm ABRY Partners in 2010.