Cyxtera, Starboard Aim to Form Publicly Traded Data Services Provider Under $3.4B Merger Deal [telecom]

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By Mary-Louise Hoffman

Cyxtera Technologies has agreed to join forces with Starboard Value Acquisition Corp. (Nasdaq: SVAC) in an approximately $3.4 billion merger transaction to create a publicly traded data center services provider in the government and commercial markets.

The boards of directors at the two companies unanimously approved the deal and both parties expect to complete the proposed combination in mid-2021, according to a joint statement released Monday.

An investment group comprised of BC Partners, Medina Capital Advisors and Longview Asset Management launched Cyxtera upon their joint acquisition of CenturyLink's data center and colocation business in