CyrusOne Closes Cervalis Acquisition

(RTTNews) - CyrusOne Inc. (CONE) said Wednesday that it has closed the acquisition of Cervalis Holdings LLC, a privately-held operator of four data center facilities and two work area recovery facilities serving the New York metropolitan area.

The deal expands CyrusOne's existing portfolio to 31 data centers across 12 distinct markets - 10 cities in the U.S., London and Singapore.

Pursuant to the terms of the deal, originally announced in April, a subsidiary of CyrusOne acquired Cervalis for about $400 million, excluding transaction-related expenses, in an all cash deal. The acquisition was financed through proceeds from the company's recent common stock and senior notes offerings as well as drawings under its recently amended senior unsecured credit facility.

The acquisition is expected to be accretive to Normalized FFO per share and unit in the second half of 2015. There is potential additional accretion in 2016 based on lease up of existing inventory and synergies.