CoreSite Enters Denver Market with Acquisition of Established Network-Centric Colocation Provider
April 20 2012 - 8:00AM
Business Wire
CoreSite Realty Corporation (NYSE: COR), a national provider of
powerful, network-rich data centers, today announced that the
company has purchased Comfluent, a carrier-neutral, network-centric
colocation provider, located in Denver, Colorado.
Tom Ray, CoreSite’s President and Chief Executive Officer,
commented, “We are pleased to be able to expand CoreSite’s
footprint into the Denver market. Comfluent has developed a
blue-chip customer base and established itself as the clear leader
in interconnection opportunity in Denver and the Rocky Mountain
region. The acquisition is a continuation of our stated strategy to
enhance our position as a network-centric provider in key domestic
markets. We look forward to integrating Comfluent’s operations into
our national operating and sales platform and extending our ability
to serve our customers in our eighth US market. Comfluent brings to
CoreSite a strong core of customers and interconnections and an
excellent platform from which we will seek to expand our operations
in the market.”
Comfluent plays a vital role in the interconnection community in
the western U.S., serving more than 75 customers and managing the
Rocky Mountain Internet eXchange (RMIX), the region’s largest
Internet exchange with access to more than 25 networks. Comfluent
currently leases two sites that total approximately 9,300 NRSF.
“We look forward to the opportunity to continue to grow the
Denver interconnection ecosystem and provide a scalable solution
for our customers as we join CoreSite, an established
interconnection company that shares our commitment to excellent
customer service,” said Alf Gardner, Comfluent’s President and
Chief Executive Officer.
Mr. Gardner, who founded Comfluent in 1997, will remain with
CoreSite after the acquisition closes as General Manager of Denver.
Denver is an important and growing interconnection market and is
strategically situated along communication routes from the West
Coast to Chicago and Dallas.
The purchase price is approximately $3 million along with the
provision for earn-out payments over the next three years if
certain operating and leasing hurdles are met. The company
anticipates that this acquisition will contribute approximately
$0.01 to $0.02 per share in Funds from Operations in 2012.
About CoreSite
CoreSite Realty Corporation (NYSE: COR) is a national provider
of data center products and interconnection services. More than 700
customers such as Global 1000 enterprises, communications
providers, cloud and content companies, financial firms, media and
entertainment, healthcare, and government agencies choose CoreSite
for the confidence that comes with customer-focused data center
products, service and support systems, and scalability. CoreSite
data centers are business catalysts, featuring the Any2 Internet
exchange and network ecosystems, which include access to 200+
carriers and service providers and a growing mesh of more than
15,000 interconnections. The company features a diverse colocation
offering from individual cabinets to custom cages and private
suites, with 12 data center locations in seven major U.S. markets.
For more information, visit www.CoreSite.com.
Forward Looking Statements
This earnings release and accompanying supplemental information
may contain forward-looking statements within the meaning of the
federal securities laws. Forward-looking statements relate to
expectations, beliefs, projections, future plans and strategies,
anticipated events or trends and similar expressions concerning
matters that are not historical facts. In some cases, you can
identify forward-looking statements by the use of forward-looking
terminology such as “believes,” “expects,” “may,” “will,” “should,”
“seeks,” “approximately,” “intends,” “plans,” “pro forma,”
“estimates” or “anticipates” or the negative of these words and
phrases or similar words or phrases that are predictions of or
indicate future events or trends and that do not relate solely to
historical matters. Forward-looking statements involve known and
unknown risks, uncertainties, assumptions and contingencies, many
of which are beyond the company’s control, that may cause actual
results to differ significantly from those expressed in any
forward-looking statement. These risks include, without limitation:
the geographic concentration of the company’s data centers in
certain markets and any adverse developments in local economic
conditions or the demand for data center space in these markets;
fluctuations in interest rates and increased operating costs;
difficulties in identifying properties to acquire and completing
acquisitions; significant industry competition; the company’s
failure to obtain necessary outside financing; the company’s
failure to qualify or maintain our status as a REIT; financial
market fluctuations; changes in real estate and zoning laws and
increases in real property tax rates; and other factors affecting
the real estate industry generally. All forward-looking statements
reflect the company’s good faith beliefs, assumptions and
expectations, but they are not guarantees of future performance.
Furthermore, the company disclaims any obligation to publicly
update or revise any forward-looking statement to reflect changes
in underlying assumptions or factors, of new information, data or
methods, future events or other changes. For a further discussion
of these and other factors that could cause the company’s future
results to differ materially from any forward-looking statements,
see the section entitled “Risk Factors” in the company’s most
recent annual report on Form 10-K, and other risks described in
documents subsequently filed by the company from time to time with
the Securities and Exchange Commission.
Cencora (NYSE:COR)
Historical Stock Chart
From Sep 2024 to Oct 2024
Cencora (NYSE:COR)
Historical Stock Chart
From Oct 2023 to Oct 2024