I Squared Capital acquires data center portfolio from Cogent Fiber for $225M, plans $1B expansion
Type: Acquisition · Technology: Data Center · Country: United States · Capacity: 53 MW · Value: $225M · Announced: 2026-05-27
I Squared Capital agreed to acquire a portfolio of 10 data center facilities from Cogent Fiber, a subsidiary of Cogent Communications Holdings, for $225 million in cash. The portfolio includes approximately 53 megawatts of installed power capacity and 259,000 square feet of colocation space across nine U.S. markets, including Chicago, Atlanta, and Phoenix. The facilities are purpose-built, owned fee simple, and capable of supporting high-density deployments, including liquid-cooling-enabled configurations. Upon closing, I Squared will establish a standalone operating platform to own, operate, and expand the business, with plans to invest up to $1 billion through capital investment, customer-led expansion, and additional acquisitions. The transaction is expected to close in the third quarter of 2026, subject to regulatory approvals, including the expiration of the Hart-Scott-Rodino waiting period.