Report: Dallas-based global data center company CyrusOne exploring possible sale - The Dallas Morning News

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Dallas data center company CyrusOne may be looking for a buyer again.

The company has brought on investment bank Morgan Stanley to assess its options for a potential sale as some investors pressure the company to improve finances and address turnover in management, Reuters reported this week, citing “people familiar with the matter.”

CyrusOne was last reported to be contemplating a sale of the business in 2019.

The company operates 50 data centers around the world, including three in the Dallas area. The firm serves around 1,000 clients, including more than 200 Fortune 1000 companies. Its $600 million data center in Allen is one of the largest in Dallas-Fort Worth.

The Dallas Morning News has reached out to CyrusOne for comment.

The data center real estate investment trust, with headquarters in Uptown Dallas, has seen a series of leadership changes in the past two years. Former CEO, director and chairman of CyrusOne Gary Wojtaszek stepped down in February 2020 after the company cut roughly 12% of its workforce.

Wojtaszek was replaced by interim CEO Tesh Durvasula until the company brought Bruce Duncan into the role. Duncan was tasked with turning the company’s financial position around after a ransomware attack in 2019. A year later, CyrusOne announced that it had “separated” with Duncan with little explanation, and it brought in one of the company’s co-founders to take over as chief executive.

CyrusOne reported $284 million in revenue in the second quarter of this year, up 11% from the same period a year ago. According to its revised 2021 guidance for the remainder of the year, CyrusOne anticipates bringing in $1.1 billion in revenue this year.

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