ACS and GIP agree to form global data-center development venture

ACS and Global Infrastructure Partners agreed to establish a 50:50 venture to develop and operate data centers. On closing, the venture would include ACS’s 1.7 GW development portfolio across Europe, the United States and Australia. The announcement valued the assets on a 100% basis at approximately EUR2 billion, comprising approximately EUR1 billion cash plus initial earn-outs of up to EUR1 billion. Further pipeline earn-outs could reach EUR200 million.