The Toronto-headquartered institutional investors are buying Dallas-based Compass from RedBird Capital Partners and the Azrieli Group. Terms of the deal were not disclosed. (The Logic)
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The Toronto-headquartered institutional investors are buying Dallas-based Compass from RedBird Capital Partners and the Azrieli Group. Terms of the deal were not disclosed. (The Logic)
Talking point: Compass builds or buys data centres, managing land acquisition, construction and power sourcing; clients then drop in their servers and network links. It entered the Canadian market in July 2019 by acquiring two Montreal facilities, and added a Toronto site in May 2020 as part of a country-wide expansion plan. The Ontario Teachers’ Pension Plan has been an investor since 2016, and previously held a majority stake. Israel’s Azrieli Group, the namesake firm of the billionaire Canadian family, bought into Compass in July 2019. The business is capital -intensive, but demand is growing as the so-called hyperscale cloud providers—think Amazon Web Services, Microsoft Azure et al—compete to host applications and AI.
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