Colo operator Telx Group Inc. is planning an initial public offering worth up to $100 million.
The company runs 15 data centers throughout the United States. Its customers include AT&T Inc., Hewlett-Packard Co., Yahoo! Inc. and Salesforce.com.
Telx said its revenue grew more than 40 percent, to $98.3 million, last year, with losses narrowed to $9.9 million or 68 percent.
Telx didn’t say how many shares it wants to sell, or name the expected price range, but now seems to be a good time for the company’s going-public move. As data and hosting demand skyrocket, colo operators are seeing their customers’ requirements expand accordingly.
Goldman, Sachs & Co and Deutsche Bank Securities are the leading underwriters. Telx expects to trade on the Nasdaq under the symbol “TELX.”
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August 20 2018 @ 22:39:06 UTC