American Tower to buy CoreSite for $7.5 billion

NEW YORK: American Tower Corp (AMT.N) has agreed to buy U.S. data center operator CoreSite Realty Corp (COR.N) for $7.51 billion in cash.

The Denver-based company has more than 24 operating data center facilities in North America, leasing out space to companies that outsource some of their computing power. It started as a company of private equity firm Carlyle Group Inc (CG.O) and became publicly listed a decade ago.

The deal is expected to close by the end of this year.

J.P. Morgan was the lead financial adviser to American Tower, while Evercore served as CoreSite’s financial adviser.

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