Cologix is seeking a $500 million equity injection from a new institutional investor, people familiar with the matter told Bloomberg.
The colocation, cloud and interconnection provider recently acquired Metro Optic and could be looking to raise funds to continue to buy more companies and expand its business.
Since the company was founded in 2010 it has completed 11 acquisitions including a lease at the Dallas Infomart data center from NaviSite, DataCenter.BZ, Carrier Connex, the Minnesota Gateway, Standard Connections, Telehouse Centre Canada, Canix Colo, and Colo-D in Montreal.
Bloomberg reports that Cologix is working with an adviser to gauge investor interest.
In 2017, Stonepeak Infrastructure Partners bought a majority stake in Cologix in a deal that saw $500 million in incremental equity committed to help the business grow.
Bill Fathers, CEO of Cologix is also a senior operating partner at the investment firm.
Should the company receive fresh funds, it shows a change in strategy from 2016, when the company was reportedly looking to sell the business entirely, for around $1.25 billion.