M&A Deal Summary

Cincinnati Bell Acquires CyrusOne

On May 12, 2010, Cincinnati Bell acquired information technology company CyrusOne from ABRY Partners and Triangle Capital for 525M USD

Acquisition Highlights
  • This is Cincinnati Bell’s 1st transaction in the Information Technology sector.
  • This is Cincinnati Bell’s 2nd largest (disclosed) transaction.
  • This is Cincinnati Bell’s 2nd transaction in the United States.
  • This is Cincinnati Bell’s 1st transaction in Texas.
Investment Fate
  • CyrusOne went public in 2013.
  • CyrusOne was sold to a consortium of financial buyers in 2021 for 15.0B USD.

M&A Deal Summary
Date 2010-05-12
Target CyrusOne
Sector Information Technology
Buyer(s) Cincinnati Bell
Sellers(s) ABRY Partners
Triangle Capital
Deal Type Add-on Acquisition
Deal Value 525M USD

Target

CyrusOne

Dallas, Texas, United States
CyrusOne is a global REIT specializing in design, construction, and operation of more than 50 high-performance data centers worldwide. The Company provides mission-critical facilities that ensure the continued operation of IT infrastructure for approximately 1,000 customers, including approximately 200 Fortune 1000 companies. CyrusOne was founded in 2001 and is based in Dallas, Texas.

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Buyer(S) 1

Buyer

Cincinnati Bell

Cincinnati, Ohio, United States
Category Company
Founded 1873
Sector Communications
Employees4,300
Revenue 1.5B USD (2019)
DESCRIPTION
Cincinnati Bell's corporate headquarters in Cincinnati, Ohio.
Cincinnati Bell's corporate headquarters in Cincinnati, Ohio.

Cincinnati Bell, Inc. is a provider of integrated communications solutions, including local and long-distance voice, data, high-speed Internet and entertainment services. Cincinnati Bell serves customers in Greater Cincinnati and Dayton. Cincinnati Bell was founded in 1873 and is based in Cincinnati, Ohio.

DEAL STATS #
Overall 2 of 6
Sector (Information Technology) 1 of 1
Type (Add-on Acquisition) 2 of 4
State (Texas) 1 of 1
Country (United States) 2 of 5
Year (2010) 1 of 1
Size (of disclosed) 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-12-06 eGIX

Carmel, Indiana, United States

eGIX, Inc. provides voice and data communications services to small and medium sized businesses. eGix serves as a single source for reliable unified voice and data solutions, Internet access, VoIP applications, local line services and a full suite of enhanced services, including unified communications.

Buy $18M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-07-13 Cincinnati Bell - Protection Security Monitoring Business

Cincinnati, Ohio, United States

Cincinnati Bell, Inc. - Protection(TM) Security Monitoring Business is a provider of alarm systems.

Sell -

Seller(S) 2

SELLER

ABRY Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1989
PE ASSETS 12.8B USD
Size Mega
Type Sector Focused
DESCRIPTION

ABRY Partners is a media and communications focused private equity investment firm. Specific areas of interest include television, publishing, convention/trade shows, for-profit training, couponing, monitoring services, telephone companies, communications towers, music libraries, database providers, wireless communications, and in-store advertisers. ABRY can provide both equity and mezzanine capital, typically committing $20 to $200 million of equity or $15 to $50 million of mezzanine capital per transaction. Prospective transaction situations include buyouts, expansion financings, platform acquisitions, consolidations, and recapitalizations. ABRY Partners was formed in 1989 and is headquartered in Boston, Massachusetts.

DEAL STATS #
Overall 20 of 103
Sector (Information Technology) 2 of 24
Type (Add-on Acquisition) 8 of 53
State (Texas) 3 of 12
Country (United States) 20 of 88
Year (2010) 3 of 8
Size (of disclosed) 18 of 29
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-04-26 AHCS

Miami, Florida, United States

AHCS is a provider of technology enabled, medications claims processing solutions for physicians serving worker’s compensation patients. AHCS was founded in 1997 and is based in Miami, Florida.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-06-10 EduK Group

Santurce, Puerto Rico

EduK Group Inc. operates educational institutions. EduK Group is a provider of postsecondary education in Puerto Rico and is building a presence in key Hispanic markets within the U.S.

Buy -
SELLER

Triangle Capital

Raleigh, North Carolina, United States
Category Private Equity Firm
Founded 2007
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

DEAL STATS #
Overall 4 of 71
Sector (Information Technology) 1 of 4
Type (Add-on Acquisition) 1 of 33
State (Texas) 1 of 6
Country (United States) 4 of 70
Year (2010) 1 of 1
Size (of disclosed) 1 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-04-22 Media Temple

Culver City, California, United States

Media Temple, Inc. is a web hosting and virtualization service provider based in California that provides businesses worldwide with reliable, professional-class services to host websites, email, business applications, and other rich Internet content.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-05-24 Minco Technology Labs

Austin, Texas, United States

Minco is a fab-less manufacturer, processor and value-added distributor of semiconductors and components used in military, aerospace, medical, energy and other high-reliability applications.

Buy -
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