EXCLUSIVE Data center operator CoreSite fields acquisition interest-sources

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Nov 9 (Businesshala) – CoreSight Realty Corp (COR.N), a US data center operator with a market value of more than $8 billion, with an investment bank to explore its options after attracting acquisition interest is working, people familiar with the matter said.

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Sources said CoreSite has been approached by private equity firms including American Tower Corp (AMT.N) and Digital Realty Trust Corp (DLR.N). Sources said there is no certainty that CoreSite will successfully strike a deal with either party.

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The sources requested anonymity as the matter is confidential. CoreSite and American Tower did not immediately respond to requests for comment. Digital Realty declined to comment.

Based in Denver, CoreSite has more than 25 operating data center facilities in North America, leasing space to companies that outsource some of its computing power. It began as a company of private equity firm Carlyle Group Inc. (CGO) and went publicly listed a decade ago.

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Shares of CoreSite are up 28% year-over-year, outperforming the benchmark US S&P 500 index, as remote working during the COVID-19 pandemic fuels demand for more processing power and data storage in corporate networks. Huh.

Reporting by Greg Rumeliotis and David French in New York Editing by Bernadette Baum

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