A newly formed entity sponsored by I Squared Capital agreed to purchase 10 data center facilities across the United States from Cogent Fiber, LLC, an indirect wholly owned subsidiary of Cogent Communications Holdings, Inc.

The cash deal carries an aggregate purchase price of $225 million and is expected to close after June 12, 2026, or the expiration or termination of the applicable HSR waiting period, whichever occurs later.

The facilities are in Phoenix, Anaheim, Burbank, Stockton, Atlanta, Chicago, Elkridge, Kansas City, Nashville and Houston.

Cogent Communications is a facilities-based provider of Internet access and private-network services to bandwidth-intensive businesses, with an all-optical IP network serving 306 markets globally.