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Blackstone to buy data center operator QTS Realty Trust for $6.7 bln – WSJ

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Investment firm Blackstone Group Inc (BX.N) will buy data center operator QTS Realty Trust Inc (QTS.N) for about $6.7 billion, the Wall Street Journal reported on Monday.

The buyout firm's infrastructure unit along with its non-traded real-estate investment trust will pay $78 per share for QTS, according to the report.(https://bit.ly/3ioXRxx)

The price represents a premium of about 21% to QTS' closing price on Friday.

A COVID-19 pandemic-led remote working environment boosted demand for cloud services, which are reliant on data centers. QTS has more than 7 million square feet of data center space throughout North America and Europe.

The transaction is valued at about $10 billion, including the assumption of the data center operator's existing debt, the report said.

Blackstone and QTS did not immediately respond to Reuters' request for comment.

Our Standards: The Thomson Reuters Trust Principles.

Source: reuters.com

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