phoenixNAP to Sell Data Center and Colocation Business to RadiusDC

Cleary Gottlieb is representing phoenixNAP in the sale of its Phoenix Data Center and Colocation Business to RadiusDC.

The transaction includes phoenixNAP’s colocation and data center assets, including its Phoenix facility, interconnection platform, and future campus development rights.

The transaction was announced on March 12, 2026, and is expected to close in the second quarter of 2026, subject to customary closing conditions and regulatory approvals.

Following the closing of the transaction, phoenixNAP will serve as a tenant of the data center and approximately 80% of phoenixNAP’s global business, including phoenixNAP’s Bare Metal Cloud and network service platforms, will continue to be independently owned and operated by phoenixNAP.

phoenixNAP is a global IT services provider with a focus on cybersecurity and compliance-readiness, whose progressive Infrastructure-as-a-Service solutions are delivered from strategic edge locations worldwide.

For more information, please see the press release here.

The Cleary M&A team includes partners Matthew Salerno and Benet O’Reilly, associates Kate Ginsbern, John Bender, Jiwon Kim, and Myron Atta-Mensah, and law clerk Catherine Hendicott, with assistance from associates Cierra Warren, Adrien Schmieder, Yardena (Dena) Katz, and Isabel Keene. Partner Joseph Lanzkron and associates Jacob Evan Solomon, Dean Luo, and Indra (Neil) Dan are advising on real estate matters, with assistance from associate Denise Larson. Partner Alan Levine and associates Eitan Agagi and Wil Steebs are advising on executive compensation and employee benefits matters, with assistance from associate Emily Barry. Partner Jason Factor and associates Michael Eis and Kathy Zhang are advising on tax matters. Partner Marcela Robledo and associates Melissa Faragasso and Lara Castellino are advising on intellectual property and data privacy matters. Partner Jeremy Calsyn and associates Edward Chung and Eun Joo Hwang are advising on antitrust matters. Partner Chase Kaniecki and associate Alexi Stocker are advising on trade control matters. Senior attorney Jim Corsiglia is advising on anticorruption matters. Partner Beau Sterling and associates Madison Bush and Anne Kettler are advising on environmental, health, and safety matters. Partner Matthew Mao and associates Anirudh Sivaram and David Rubinstein are advising on finance matters.