AT&T sold operations and assets of its data center collocation unit to Brookfield. At the start of this month, AT&T had announced completion of sale to Brookfield Infrastructure and its partners.
Brookfield, to better manage the business involved and own and operate the assets, has created a wholly owned company namely Evouqe Data Center Solutions. Colocation services of Evoque will be offered by AT&T to its business customers as Evoque joined the global collocation ecosystem platform of AT&T that offers the clients access to more than 350 data centers around the world.
Over 1,000 companies worldwide, spanning across the variety of sectors like industrial, financial, technology and media, to which AT&T is delivering collocation services through 18 Internet Data Centers (IDCs) in the United States and 13 outside the United States. And after the deal these existing customers of AT&T will be continue to be served through Brookfield owned collocation services.
Brookfield has been managing its assets of worth more than $75 billion across transport, renewable power, energy, utilities, sustainable resources and communications infrastructures sectors and its long track record, as being one of the largest players in the world for investing, owning and operating infrastructure assets globally, will grow the current business of data center collocation.
Last year on June 21, 2018, as part f its strategic plans, an announcement of making of an alliance with Brookfield, including transfer of data center colocation operations and assets, was also announced by the AT&T.
By the end of this year, AT&T has been intending to reduce its net debts to the 2.5X range and the amount of $1.1 billion, which it has received under the terms of the deal, will be supporting it to achieve the goals by lowering its net-debt-to-EBITDA-ratio.
AT&T will be transferring customer contracts, collocation operations supporting staff, facilities, whether on lease or owned, and fixed assets to Brookfield at closure of the deal.