QTS Realty Trust and Blackstone have announced that they have entered into a definitive agreement under which Blackstone Infrastructure Partners, Blackstone Real Estate Income Trust, Inc. and other long-term perpetual capital vehicles managed by Blackstone will acquire all outstanding shares of common stock of QTS Realty Trust for $78.00 per share in an all-cash transaction valued at approximately $10 billion, including the assumption of debt.
QTS Realty Trust is a provider of data center solutions across a footprint spanning more than 7 million square feet of owned mega scale data center space within North America and Europe. Through its software-defined technology platform, QTS is able to deliver infrastructure solutions, connectivity, and premium customer service to hyperscale technology companies, enterprises, and government entities.
The transaction was unanimously approved by the QTS Board of Directors and is expected to close in the second half of 2021.
Upon completion of the transaction, the parties expect that QTS will continue to be led by its senior management team and maintain its corporate headquarters in Overland Park, Kansas.
“QTS is powered by its people and continues to set a new standard for service delivery in the data center industry,” said Chad Williams, chairman and CEO of QTS. “We see a significant market opportunity for growth as hyperscale customers and enterprises continue to leverage our world-class infrastructure to support their digital transformation initiatives. We are confident this transaction is the right step to achieve our strategic objectives in our next phase of growth.”
The definitive merger agreement includes a 40-day “go-shop” period that will expire on July 17, 2021.
The transaction with Blackstone is expected to close in the second half of 2021, subject to approval by QTS’ stockholders and the satisfaction of other customary closing conditions.
For more information, go to www.qtsdatacenters.com and www.blackstone.com.