Cordiant Digital Infrastructure has closed its acquisition of DataGryd and is renaming the company Hudson Interxchange.
The investment firm, owned by Cordiant Capital, announced in early January that it had entered into a binding agreement to acquire ‘certain assets constituting the full operational platform’ of DataGryd Datacenters LLC for $74 million. The acquisition was fully funded from Cordiant’s available cash resources.
“We're excited to announce our new name and brand identity following the Cordiant Digital Infrastructure acquisition of DataGryd Data Centers on January 13th,” the company said in a LinkedIn post last week. “The new brand identity is a precise representation of our data center and interconnect platform. This is the first of several announcements surrounding the rebrand.”
Founded in 2011, DataGryd operates data center space in the 60 Hudson Street carrier hotel in New York City; the company currently occupies around 170,000 sq ft (15,800 sqm).
The acquisition closed later the same month, and the newly-renamed Hudson Interxchange will pursue an option to take up an additional 120,000 sq ft of data center space that will bring its presence at 60 Hudson Street to four floors, equivalent to more than a third of the leasable space within the building.
In January 2021 Cordiant Capital raised £370 million ($511m) through the IPO of a new infrastructure firm called Cordiant Digital Infrastructure, before acquiring Ceské Radiokomunikace (CRA) from funds of Macquarie in the Czech Republic as well as an undisclosed long-haul fiber-optic network based in Norway. It has also acquired Polish digital infrastructure company Emitel.
A number of other investment firms launched new digital infrastructure-focused investment vehicles on the London Stock Exchange last year. Triple Point Investment Management raised £300 million ($408m) from a March 2021 IPO through Digital 9 Infrastructure, which subsequently acquired submarine cable owner Aqua Comms for £160 million ($215m). In June, it raised another £175 million ($246.7m) and subsequently acquired Icelandic data center operator Verne Global for £231 million ($320m), followed by a Stellium data center and cable landing station in northern England.
October then saw Pantheon announce plans to list an infrastructure subsidiary on the London Stock Exchange and raise around £300 million to invest in infrastructure including data centers, with Alinda Capital Partners following suit with similar plans shortly afterward.
Pantheon recently invested in the take-private of CyrusOne through a KKR-affiliated investment vehicle, investing approximately £21 million ($27.5m).