AMP Capital acquires US cloud services provider Expedient
AMP Capital, the global investment manager, has agreed to acquire the US provider of cloud computing and data centre services Expedient (Continental Broadband, LLC) in a move to bolster communications infrastructure holdings.
The manager bought Expedient from Landmark Media Enterprises, LLC, due to its fully integrated suite of colocation, cloud, managed services and network access products, which it distributes to 1,200 customers.
The data centres and cloud computing platforms have a unified delivery and service capability, and they act as one functional asset.
Simon Ellis, partner, head of Americas infrastructure equity at AMP Capital said: “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.”
He continued: “Expedient represents a significant additional investment in the US communications infrastructure space following our acquisition of Everstream, a Cleveland-based fibre provider, in 2018.”
The data centres cover about 160k square feet of space, using 12.4MW of power, and Expedient provides hybrid solutions supported by continuous product innovation.