American Tower Acquires Colo ATL
STAMFORD, CT — Colo Atl has been acquired by American Tower, the world’s largest owner of wireless infrastructure. Founded in 2001 by Tim Kiser, Colo Atl allows network operators to securely and conveniently interconnect within an SSAE 18 certified facility with 100% uptime for 17 consecutive years. Colo Atl is strategically located in downtown Atlanta, providing superior access to fiber networks and Internet exchanges. Atlanta serves as the hub for the Southeast as cloud providers continue to demand increased interconnection in order to reduce latency for end users.
“Bank Street possesses a tremendous amount of expertise and knowledge of the sector which allowed them to successfully identify and execute a transaction for the company that I founded and operated for over 17 years,” stated Tim Kiser, Chief Executive Officer of Colo Atl. “Their team worked with dedicated focus to guide me through every stage of the process to provide the best possible outcome, capturing the intrinsic value of this unique asset and maximizing value.”
Bank Street Group LLC served as Colo Atl’s exclusive financial advisor in connection with this transaction. Greenberg Traurig, LLP served as legal counsel to Colo Atl and Locke Lord LLP served as legal counsel to American Tower in connection with this transaction.
“The deal isn’t huge by data center standards, as Colo Atl operates about 26,000 square feet of colocation space across two floors. But it marks the arrival of an intriguing new player on the data center acquisition scene, as American Tower reveals its strategic interest in the interconnection business,” writes Rich Miller of Data Center Frontier.
About American Tower: Founded in 1995, American Tower, one of the largest global REITs, is a leading independent owner, operator and developer of multi-tenant communications real estate, with a portfolio of approximately 171,000 communications sites, including approximately 41,000 properties in the United States and approximately 130,000 properties internationally.
About Colo ATL: Colo Atl, a JT Communications company, is the leading provider of carrier-neutral colocation and interconnection provider at 55 Marietta Street in the global telecom hub of Atlanta, GA. Colo Atl provides superior carrier-neutral colocation and interconnection services at an affordable rate. Colo Atl is a carrier-neutral environment that allows all types of network operators to securely and conveniently cross connect within a SSAE 18 certified facility. Colo Atl has no monthly recurring cross connect (MRC) fees between tenants and carriers within the Colo Atl meet-me-area (MMA) and provides exceptional customer service.
About Bank Street: Bank Street provides insightful and objective advice to help our corporate and institutional clients achieve their financial and strategic goals. We are a private investment banking firm primarily serving growth companies in the communications, media and technology sectors with a comprehensive array of services, including Merger & Acquisition Advisory, Debt and Equity Capital Markets, and Restructuring.