Vantage Data Centers Raises $675 Million War Chest For ‘Explosive Growth’
In a move to become a leading North American wholesale data center provider, Vantage Data Centers has raised a whopping $675 million to greatly expand its data center footprint.
By raising $180 million in equity from existing investors and $495 million in debt financing, Vantage Data Centers will build-out the first data center on the company’s second campus in Santa Clara, Calif., and also create a new 160-megawatt data center campus in Phoenix.
“The capital we raised over the last 90 days will help fund the explosive growth we’re experiencing and anticipate seeing throughout 2019 and beyond,” said Sharif Metwalli, chief financial officer for Vantage Data Centers, in a statement.
Vantage Data Centers, named in CRN’s 2018 Data Center 100 list, currently has nine operational data center facilities totaling 92 megawatts of capacity in North America.
In January, the Santa Clara, Calif.-based data center solutions provider finalized its acquisition of Canada-based 4Degrees Colocation for approximately $200 million. The acquisition expanded Vantage’s presence to Montreal and Quebec City, on top of its existing markets in California, Phoenix and Washington.
A portion of the $675 million raised will be spent to finance the 4Degrees Colocation acquisition.
Vantage’s new massive war chest will also fund the construction of a new 160MV data center campus on 50 acres of land in the metro area of Phoenix. Additionally, part of the $675 million will be used to build a new 30MW data center campus in Northern Virginia with five planned multi-story facilities expected to be constructed on site.
“This capital accelerates the funding of our long-term strategic plan,” said Metwalli. “We have been executing on our growth and development and are well prepared to continue our current trajectory.”
Vantage offerings data center planning, layout, design, project management, migration and networking services, as well as the ability to build custom data center solutions. The company provides highly scalable, flexible and efficient data center solutions to hyperscale, cloud and enterprise customers.