Cincinnati Bell’s Acquisition of CyrusOne

On May 12, 2010, Cincinnati Bell Inc. and ABRY Partners announced that they have entered into a definitive agreement for Cincinnati Bell to acquire data center operator CyrusOne in a cash transaction valued at approximately $525 million. CyrusOne is a premier provider of colocation and data center services to Fortune 500 companies, and the largest privately held data center operator based in the State of Texas. CyrusOne will become a wholly owned subsidiary of Cincinnati Bell. The closing, which is expected by the end of the second quarter of 2010, is subject to customary closing conditions, including regulatory approvals.

The Cravath team includes partner Robert I. Townsend and associate Sophia D. Tawil on corporate matters; partners William V. Fogg, B. Robbins Kiessling, senior attorney Daniel A. O’Shea and associates Jin Hee Kim, Randall Derek Walters, Youjung Park and Christopher R. Moore on finance matters; partner Eric W. Hilfers and associate Edward S. Wei on employee benefits and compensation matters; partner Andrew W. Needham and associate Jonathan J. Katz on tax matters; and associate Matthew Morreale on environmental matters.