AT&T announced the completion of the sale of its data center colocation operations and assets to Brookfield Infrastructure for $1.1 billion.
AT&T will use the proceedings for reducing its net-debt-to-EBITDA-ratio to the 2.5x range by the end of 2019.
Brookfield has set up a company, Evoque Data Center Solutions, to operate the data center business. Tim Caulfield is CEO of the business.
AT&T will offer Evoque’s colocation services and access to 350 plus data centers around the world to business customers.
AT&T has 18 Internet Data Centers (IDCs) in the United States and 13 outside the US. AT&T earlier said the colocation data center business has a customer base of more than 1,000 companies across the technology, financial, industrial, media, retail and other sectors.