Cyxtera Technologies

What Cyxtera Technologies does

Cyxtera Technologies was a data center colocation services provider operating a global platform spanning North America (United States, Canada, Toronto) and Europe (London, UK). The company's core offering was space, power, and cooling for enterprise IT infrastructure, supported by 100% uptime SLAs on power availability, with adjacent connectivity services providing low-latency network access to major carriers and cloud on-ramps (AWS, Microsoft Azure, Google Cloud), and customer care including remote-hands IT support. Its product portfolio was organized around three pillars — colocation, connectivity, and customer care — targeting enterprise customers across financial services, cloud services, and semiconductor/EDA verticals, evidenced by published case studies with a top bank, a cloud solutions provider, and an EDA leader. The business operated a horizontal go-to-market, with pricing delivered via quote-based contracts (no public pricing was disclosed).

The company's financial structure ultimately proved unsustainable: approximately $1.02 billion in funded debt obligations drove a Chapter 11 filing in June 2023 in the U.S. Bankruptcy Court for the District of New Jersey, after Federal Reserve rate increases roughly doubled Cyxtera's annualized interest expense from $35.9 million in Q1 2022 to $75.7 million in Q1 2023. The restructuring was supported by lenders holding over two-thirds of the term loan, with $50 million of new financing secured via a Restructuring Support Agreement in May 2023 and $200 million of debtor-in-possession financing during the bankruptcy.

Following the bankruptcy process, substantially all of Cyxtera's data center assets were acquired in January 2024 by Phoenix Data Center Holdings LLC, an affiliate of Brookfield Infrastructure Partners L.P., for $775 million in cash. Brookfield subsequently merged the Cyxtera assets with Evoque Data Center Solutions in April 2024 to form Csquare (branded Centersquare / Phoenix Infrastructure LLC), operating approximately 80 data centers across North America and Europe. The original Cyxtera Technologies entity remains in post-effective wind-down, with the General Unsecured Creditors Trust administering only about $8.65 million in recovery against approximately $307 million in filed unsecured claims. Csquare completed a NYSE IPO in July 2026 under ticker CSQR, raising approximately $1.05 billion with Brookfield retaining control.

Name

Cyxtera Technologies

Legal name

Phoenix Infrastructure LLC

Website

https://cyxtera.com

Company type

Private

Founded year

2002

Operating status

Acquired

Headcount range

501–1,000 employees

Short description

Cyxtera Technologies operated a global data center colocation platform providing space, power, cooling, and connectivity services to enterprise customers across North America and Europe. Following a June 2023 Chapter 11 filing, assets were acquired by Brookfield for $775M and merged into Csquare/Centersquare.

Ownership category

akta.pro rank

Product category

Data Center Colocation Services

NAICS

Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services (5182)

SIC

Services-Computer Rental & Leasing (7377)

akta.pro primary industry

Retail Colocation (Multi-Tenant Data Centers) (HDABACAA)

akta.pro secondary industries

Data Center Operations & Managed Services (Remote Hands, NOC/SOC) (HDABANAA), Wholesale Colocation (Powered Shells / Suites) (HDABACAB)

Keywords

• Data center colocation
• Enterprise IT infrastructure
• Network connectivity services
• Managed data center services
• Cloud on-ramp connectivity

Headquarters

HQ city

Coral Gables

HQ country

United States

HQ region

North America

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Operations, Personnel, Others

Core offering

Cyxtera Technologies operated a global data center colocation platform providing space, power, and cooling for enterprise IT infrastructure with 100% uptime SLAs on power. The company also offered network connectivity to major carriers, cloud on-ramps, and service providers, along with customer care and remote hands support services. The portfolio spanned 18+ data center markets across North America (Albuquerque, Atlanta, Boston, Chicago, Dallas/Fort Worth, Los Angeles, New York/New Jersey, Northern Virginia, Phoenix, Silicon Valley, Tampa, Toronto, and others) and Europe (London).

Product overview

Cyxtera Technologies was a colocation and data center services provider. Following its 2023 Chapter 11 bankruptcy, substantially all assets were acquired by Brookfield Infrastructure Partners and merged with Evoque Data Center Solutions to form Csquare (now known as Centersquare/Phoenix Infrastructure LLC). The current Csquare portfolio operates 80 data centers across North America and Europe, offering colocation, connectivity, and customer care services.

Differentiator

Problem solved

Functional benefit

Products and services

• Colocation Core colocation services providing space, power, and cooling for customer IT infrastructure with a 100% uptime SLA on power availability, designed for enterprise IT workloads.
• Connectivity Network connectivity services enabling low latency, high throughput connections to major carriers, cloud on-ramps, and service providers within Cyxtera's data centers.
• Customer Care / Remote Hands Customer support services including consultation, ongoing support, and remote hands services for routine IT tasks and troubleshooting at Cyxtera data center locations.

Segments1 record

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration8 records

Scale indicators5 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Equinix: Equinix is the largest global retail colocation and interconnection provider, operating IBX data centers across the Americas, EMEA, and APAC. It is directly comparable to Cyxtera/Csquare in retail multi-tenant colocation, carrier-neutral connectivity, and cloud on-ramp services.
• Digital Realty Trust: Digital Realty operates a global platform of hyperscale and enterprise colocation data centers with PlatformDIGITAL and interconnection products. It is directly comparable to Cyxtera/Csquare in multi-tenant colocation and cloud on-ramp connectivity.
• CyrusOne: CyrusOne is a major colocation provider serving enterprise and hyperscale customers across the US and Europe, currently owned by KKR and Global Infrastructure Partners. It competes directly with Cyxtera/Csquare in multi-tenant retail and wholesale data center services.
• Iron Mountain Data Centers: Iron Mountain Data Centers operates a global colocation platform with a strong compliance and security focus, serving enterprise customers. It is comparable to Cyxtera/Csquare in retail colocation, compliance-driven enterprise positioning, and cloud connectivity.
• CoreSite (American Tower): CoreSite, owned by American Tower, is a US-focused retail colocation and interconnection provider with strong cloud on-ramp and carrier-neutral connectivity offerings. It is directly comparable to Cyxtera in retail colocation and interconnection-rich data centers.
• EdgeConneX: EdgeConneX specializes in edge and hyperscale data center deployments across global markets, serving content, cloud, and enterprise customers. It is comparable to Cyxtera/Csquare in multi-tenant colocation and edge-focused data center services.
• Switch (DigitalBridge/IFM): Switch is a US-based colocation provider known for high-density and enterprise-grade data centers, currently backed by DigitalBridge and IFM Investors. It is comparable to Cyxtera in retail colocation and high-density workload positioning.
• QTS Realty Trust (Blackstone): QTS, owned by Blackstone, operates a large hyperscale and enterprise colocation platform. It is comparable to Cyxtera/Csquare in multi-tenant colocation, hyperscale and enterprise customer base, and North American footprint.

Regional players

• GDS Holdings: GDS Holdings is a leading carrier-neutral colocation provider in China and Southeast Asia, serving cloud and enterprise customers. It is comparable to Cyxtera in retail colocation and cloud on-ramp connectivity but operates primarily in Asia rather than North America and Europe.

Emerging players

• DataBank: DataBank is a US-focused edge colocation and managed services provider serving enterprise customers. It is comparable to Cyxtera/Csquare in retail colocation and edge/workload-focused data center services but is smaller in scale.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/csquare
• Xx.com/cyxtera
• Facebookfacebook.com/cyxtera

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries1 record

Funding overview

Funding rounds4 records

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Cyxtera Technologies