I Squared Capital Is in Talks to Buy Mexico’s Kio Networks

Infrastructure-focused investment firm I Squared Capital is in advanced talks to acquire Kio Networks, a data-center operator in Mexico and Central America, according to people with knowledge of the matter.

The transaction’s valuation couldn’t immediately be learned and as with any deal that hasn’t been finalized, it’s possible talks could collapse. Kio, backed by billionaire Maria Asuncion Aramburuzabala’s family office, Tresalia Capital, began exploring a sale last summer that could value the company at as much as $1 billion, Bloomberg News reported in August.