- Cologix rolls up colocation assets and launches
- Telx to build out inventory in New Jersey
- Telx brings on new financial customer in Chicago
Summary: Cologix expanded its financial resources in preparation for expansion and potential acquisitions.
Details: Cologix increased its borrowing capacity, added the resources of two new institutions (Scotia Bank and Bank of America) to its bank syndicate and extended the maturity date on an existing credit facility. Cologix disclosed more favourable terms and pricing.
Angle: The increased resources are a product of Cologix’s recent activity. Cologix has completed a number of acquisitions this year and will be working to consolidate and ramp up these operations, while upgrading facilities where necessary (and eventually expanding them). It aims to continue expanding through acquisition and remains in an opportunistic posture – looking for under the radar assets in emerging markets that fit its model of pureplay colocation with network density and interconnection add-on revenues.