Manulife Investment Management (Manulife IM) announced that it has entered into a definitive agreement to acquire a controlling interest in Serverfarm.

Manulife IM's substantial investment will offer Serverfarm the necessary capital to further expand its presence in North America, Europe, and Israel, taking advantage of favorable market prospects. Presently, Serverfarm manages a portfolio of eight data centers spanning North America, Europe, and Israel, encompassing over 1.5 million gross sq ft and 125 MW of IT capacity. Additionally, Serverfarm has secured additional land for future data center projects. 

Serverfarm has enlisted Citigroup Global Markets Inc. as its lead financial advisor, with TD Securities (USA) LLC providing financial advisory services. In terms of legal counsel, Serverfarm has engaged Dentons US LLP and Alston & Bird LLP. On the other hand, Manulife Investment Management has sought the financial advisory services of TAP Advisors LLC, with legal counsel being provided by Paul, Weiss, Rifkind, Wharton & Garrison LLP. 

The acquisition is expected to close in the Q3 of 2023 after the satisfaction of customary closing conditions including the receipt of certain regulatory approvals.