CSQR - Csquare • Valuation

Csquare, Inc. operates as a leading North American digital infrastructure platform, providing carrier-neutral colocation and interconnection services. The company's portfolio consists of 64 highly engineered data centers across 21 major metropolitan markets in the US, Canada, and the UK, delivering approximately 389 megawatts of sellable power capacity. Csquare's business model centers on offering secure space, resilient power, advanced cooling, and dense connectivity ecosystems that enable customers to deploy and operate critical IT infrastructure with high reliability. Revenue is primarily generated through recurring contracts for colocation and interconnection services, with interconnection accounting for roughly 10% to 13% of recurring revenue. The company serves a diversified base of over 1,700 customers, including cloud service providers, media and communications firms, financial institutions, healthcare organizations, and internet service providers. No single customer accounts for more than 7% of its revenue, though leading hyperscalers represent a meaningful portion of its monthly recurring revenue. Formed through Brookfield Infrastructure's strategic acquisitions of Evoque Data Center Solutions (carved out from AT&T) and Cyxtera Technologies, the combined platform was rebranded as Centersquare before going public as Csquare, Inc. in July 2026. The company utilizes its metro-proximate footprint—reaching over 92% of the US population within two milliseconds of latency—to capitalize on rising enterprise demand for hybrid cloud architectures, network-intensive applications, and edge AI inference workloads.