Executive Summary
Strategic activity within the infrastructure services market continues to change and evolve. New strategic buyers have entered the space, deal drivers are changing and the quick maturation of the sector has altered the valuation of various different types of assets. But there are constants as well. Internet infrastructure has always been a highly fragmented market that is extremely conducive to private equity investment and M&A. And this activity never seems to slow down no matter where the market is headed. Even when a potential steamroller looms to shut down the party – AWS and the other public clouds – the shift in the market spawns the emergence of new segments that are populated by familiar faces and then sooner than later become fragmented and ripe for another round of strategic activity. There is almost a cyclical nature to the sector that constantly renews itself in the face of multiple challenges. This report takes a closer look at the strategic landscape and assesses its broader impact. Recent transactions and strategic development provide the context and backdrop.