Rogers announced today it is selling its portfolio of nine Rogers Business data centres to InfraRed Capital Partners, a digital infrastructure investor owned by Sun Life.
Even after the sale, Rogers will keep selling data centre services on InfraRed’s behalf and will continue providing network connectivity to the facilities. Terms of the deal were not disclosed.
The move is part of Rogers’ plan to offload real estate and other non-core assets, with the money going toward paying down debt. The deal doesn’t include the company’s corporate data centres that run its network and IT systems. The sale is expected to close by the end of 2025, pending regulatory approval.
Rogers recently closed its huge $7 billion deal to sell off a 49.9% stake of its wireless network infrastructure, to partners Blackstone and other major Canadian pension funds, a move to also pay down debt.
InfraRed Capital Partners says the portfolio includes nine Tier 2 and 3 facilities in major Canadian cities, offering colocation, cloud, and managed services with a total capacity of up to 49 megawatts.
“This investment represents an exciting opportunity for us to drive value in an established business, capitalising on the rising demand for secure and reliable data centre services, within one of the most attractive segments of the Canadian digital infrastructure market,” said Pilar Banegas, Partner, InfraRed, in a statement.
“We will leverage our knowledge of the market and our deep data centre experience, built from investments such as Nexspace, our European data centre platform, to help realise its potential. Furthermore, we can also draw on our owner Sun Life’s significant presence in Canada to inform our approach,” said Banegas.
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