Cordiant Digital Infrastructure updated investors on its acquisition of Emitel, operational performance of CRA, sales progress at DataGryd and an update on its pipeline.
Emitel is a multi-asset digital infrastructure company based in Poland. It operates a network of communications towers, fiber optics and a nationwide sensor network, serving major utilities. Cordiant Digital has received anti-trust approval from Polish authorities for the acquisition. This is an important step in a multi-step government and regulatory approvals process.
Following the invasion of Ukraine by Russian troops, the Polish zloty weakened against the pound and rose volatility. Consequently, the company is in the process of implementing a prudent foreign exchange risk management strategy.
Emitel and CRA support the broadcasting of Ukrainian language television and radio channels in their respective geographical areas, in order to provide Ukrainian refugees with important updates on the Russian invasion, administrative information and entertainment. Cordiant Digital’s assets have no trade exposure to Ukrainian, Belarusian or Russian counterparties.
Since completing the acquisition of the leading US interconnect data center operator, DataGryd, in January, new sales and marketing executives have joined the team. In the few weeks since the acquisition, the qualified pipeline of new sales opportunities has increased by approx. 85%, reflecting the new stability of shareholding within the company. Additionally, the marketing team is in the process of undertaking a complete rebranding of the business that reflects the strategic interconnected nature of the asset.
The company plans to deploy $75 million to expand the facilities. This will be done gradually over the next few quarters.
CRA – which operates more than 660 towers, 6 state-of-the-art data centers, 3,730 kilometers of fiber optic network and a nationwide Internet of Things network, serving major utilities – continues to generate new sales opportunities in its various sectors of activity. For example, it recently signed a 10-year network backbone contract extension, secured an extension of data center services at a major retailer, and is experiencing strong customer interest in rolling out 5G to its mobile towers.
Pipeline and acquisition financing
Cordiant Digital’s pipeline of qualified opportunities has continued to grow and now exceeds 3 billion euros. Geographically, this pipeline is roughly evenly split between North America and Western Europe. To support this pipeline, Cordiant Digital has advanced conversations with lenders regarding a structured acquisition debt facility.
CORD: Cordiant Digital seeks debt financing to continue its deployment
previous story | next story