AT&T Inc (NYSE: T) has completed the sale of data centre colocation operations and assets to Brookfield Infrastructure and its institutional partners.
As a result of the deal, which was announced in June 2018, AT&T received proceeds of US$1.1 billion.
Brookfield has created a new company, Evoque Data Center Solutions, to own and operate the assets.
As part of a strategic partnership between AT&T and Brookfield, Evoque will join the former’s global colocation ecosystem program, which provides business customers with access to more than 350 data centres.
AT&T Closes Sale of Data Center Colocation Operations and Assets to Brookfield Infrastructure
DALLAS, Jan. 1, 2019 /PRNewswire/ — AT&T Inc.* announced today that it has completed the sale of its data center colocation operations and assets to Brookfield Infrastructure and its institutional partners (“Brookfield”). The company previously announced a strategic alliance with Brookfield that included the transfer of these operations and assets.
Brookfield has established a wholly owned company, Evoque Data Center Solutions™ (“Evoque”), to own and operate the assets. Customer contracts, employees supporting the colocation operations, fixed assets, leases and specified owned facilities have been transferred to Brookfield.
Evoque joins AT&T’s global colocation ecosystem program where AT&T will offer Evoque’s colocation services to business customers. The ecosystem program offers business customers access to 350+ data centers around the world.
Under the terms of the deal, AT&T has received $1.1 billion, which will support the company’s goal of reducing its net-debt-to-EBITDA-ratio to the 2.5x range by the end of 2019.
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