(The Hosting News) – Data center provider CyrusOne is going public. On Wednesday, a report from Data Center Knowledge signaled that the company would seek to raise $300 million by the action, operating as a subsidiary of ISP company Cincinnati Bell.
The news arrives only a couple days after CyrusOne announced that it would expand its Houston, Texas data center campus by adding a new 120 thousand square foot facility.
Providing colocation services, the data center operator maintains sites in U.S. states including Texas, Illinois, Ohio, Arizona and the country of Singapore.
Cincinnati Bell may have long planned some kind of big move for the colocation company. An earlier report from Data Center Knowledge indicated that the ISP would consider running the colocation company as a “real estate investment trust.”
The move could also help Cyrus One in an effort to fully own its properties. CyrusOne President Gary Wojtaszek previously indicated in a report that the colocator owned the property for around half of its facilities.
While the $300 million figure mark is nowhere near what social networking provider Facebook intended to raise through its IPO in May (in the billions), it’s still astronomically large, especially for a data center operator. Just last month, the company announced the appointment of new chief marketing officer Gary Wojtaszek, formerly of CoreLink.