Quality Technology Services Said to Plan IPOLee Spears
Quality Technology Services, the Kansas-based operator of data centers serving businesses and government agencies, is pursuing an initial public offering in the U.S., said people with knowledge of the matter.
The company is working with Goldman Sachs Group Inc., Jefferies Group LLC and other banks on an initial public offering, said the people, who asked not to be named because the process is private. Overland Park, Kansas-based QTS filed for the offering confidentially with U.S. regulators and may complete the sale this year, one of the people said.
QTS would join other providers of business-technology products and services such as Tableau Software Inc. and Marin Software Inc. in going public this year. CyrusOne Inc., a data-center owner and operator that raised about $361 million in a January IPO including an overallotment option, had gained 8.5 percent in trading through yesterday, data compiled by Bloomberg show.
Companies with annual sales of less than $1 billion can make IPO filings confidentially to U.S. regulators and release the information to the public nearer to the stock offering, according to the Jumpstart Our Business Startups Act.
QTS owns and operates more than 3.8 million square feet of data centers with 11 locations in seven states, according to its website. Greenwich, Connecticut-based investment firm General Atlantic LLC invested $150 million in the company in 2009.
Spokesmen at QTS, Goldman Sachs and Jefferies declined to comment. Adam Weiner, a representative for General Atlantic with Kekst & Co., said he couldn’t immediately comment.