American Tower to Buy CoreSite in $10.1B 5G Deal

American Tower agreed to buy data center manager CoreSite for $10.1 billion, the tower company said Monday. It's expected to “create a differentiated, comprehensive and interconnected communications real estate platform optimally positioned to benefit from the convergence of wireline and wireless networks amid accelerating global 5G deployments,” the company said. CoreSite has 25 data centers and more than 32,000 interconnections in eight major U.S. markets, American Tower said. “We are in the early stages of a cloud-based, connected and globally distributed digital transformation that will evolve over the next decade and beyond,” said American Tower CEO Tom Bartlett. The deal is expected to close this year "or shortly thereafter."