American Tower Strikes Deal for Data Center Trust CoreSite

American Tower Corp. agreed to buy CoreSite Realty Corp., valuing the data-center real estate investment trust at an enterprise value of about $10.1 billion including debt.

The offer of $170 a share is a 2% premium to CoreSite’s close on Friday, when it rose 2.3% to $166.59, giving the company a market value of about $8.4 billion. American Tower has a market capitalization of about $124 billion.

“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 Tom Bartlett, American Tower’s Chief Executive Officer, ...