Davis Polk & Wardwell LLP

02/23/2021 | News release | Distributed by Public on 02/24/2021 17:41

Cyxtera Technologies and Starboard Value Acquisition $250 million PIPE investment We advised the placement agents on the private placement

Davis Polk advised the placement agents in the $250 million private placement in connection with the combination of Cyxtera Technologies, Inc. and Starboard Value Acquisition Corp. The Class A ordinary shares of Starboard Value Acquisition Corp. are listed on the Nasdaq under the symbol 'SVAC.' Upon closing of the transaction, the combined company is expected to trade on the Nasdaq under the symbol 'CYXT.'

Cyxtera is a global leader in mission-critical retail colocation and interconnection services. Cyxtera operates a footprint of 61 data centers in 29 markets around the world, providing services to more than 2,300 leading enterprises, service providers and United States federal government agencies.

Starboard Value Acquisition Corp. is a special purpose acquisition company (SPAC) sponsored by SVAC Sponsor LLC, an affiliate of Starboard Value LP.

The Davis Polk corporate team included partner Richard D. Truesdell Jr., counsel Jennifer Ying Lan and associate David Beizer. All members of the Davis Polk team are based in the New York office.