Macquarie-Backed Data Center Company Aligned in Talks for $1.8 Billion Odata Deal

(Bloomberg) -- Aligned, a data center operator backed by a unit of Macquarie Group Ltd., is in talks to acquire Odata, a Latin America-focused rival, according to people with knowledge of the matter.

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The parties are in advanced discussions regarding a transaction that values Odata at about $1.8 billion including debt, said the people, who asked not to be identified discussing private information. An agreement hasn’t been reached yet and the terms could change or the talks could still collapse at the last minute. If they don’t, a deal could be announced as soon as next week, one of the people said.

Representatives for Aligned, Macquarie and Patria Investments Ltd., which controls Odata, didn’t immediately respond to requests for comment.

Odata, led by Chief Executive Officer Ricardo Alario, has a strategic partnership with CyrusOne, its website shows. Founded in 2015, it has taken steps to develop data center operations in Brazil, Colombia, Mexico and Chile.

Plano, Texas-based Aligned, led by CEO Andrew Schaap, has a footprint in Chicago, Maryland, Phoenix, Dallas, northern Virginia and Salt Lake City, its website shows. It’s backed by a fund managed by Macquarie Asset Management.

Data center platforms have attracted investment from a slew of infrastructure, real estate and other firms. Last month, Partners Group acquired EdgeCore Digital Infrastructure. In May, a consortium led by DigitalBridge Group Inc. agreed to acquire Switch Inc.

--With assistance from Cristiane Lucchesi.

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