Australia’s AMP Acquires US Data Center Provider Expedient

25 Oct 2019 by Technology

In the latest series of M&A activity in the data center industry, the global investment management firm AMP Capital acquired Expedient, a leading cloud computing and data center infrastructure as a service (IaaS) provider. AMP Capital will acquire the company from its current parent, Landmark Media Enterprises. This investment is AMP’s first data center/Infrastructure as a Service (IaaS) acquisition.

“We are delighted to secure this high-quality business on behalf of our investors. Expedient offers a fully integrated, scalable platform with embedded growth capacity. Its attractive growth prospects, supported by industry trends, supplement its stable revenues and strong cash flow generation," said Simon Ellis, Partner, Head of Americas Infrastructure Equity at AMP Capital, in a statement.

Expedient offers an integrated suite of colocation, cloud, managed services, and network access products to a highly diverse base of over 1,200 customers. The company has 11 self-directed data center facilities and leverages a half dozen partner facilities. The current data center footprint consists of approximately 160k square feet of space and 12.4MW of power. The provider serves its clients across the US from its operational locations in Baltimore, Boston, Cleveland, Columbus, Indianapolis, Memphis, Phoenix, and Pittsburgh.

The company has recently announced its western expansion. It widened its national footprint with the opening of an office in Phoenix, Arizona. Along with that, it announced the establishment of the first two cloud points of delivery across its new Western region. AMP's entry is expected to boost Expedient's growth further.

"AMP Capital has a long-term point of view about the business, very similar to Landmark’s. With access to additional capital sources and flexible financing, we stand ready to accelerate the expansion of Expedient Enterprise Cloud solutions to new markets and to offer our loyal clients an even more robust suite of Infrastructure as a Service solutions,” said Shawn McGorry, CEO of Expedient.

The acquisition will not result in any operational changes. The senior management team of Expedient will continue in their current capacities. The transaction is subject to customary closing conditions and is expected to close before the end of 2019

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