Norwalk Data Center Operator Grows Into $100M Business; CT’s High Electricity Prices Prevent In-State Growth

Originally posted on Hartford Business Journal

Bob DeSantis is bullish about the future growth of data centers.

He should be. His Norwalk-based company, 365 Data Centers, runs them and has grown into a $100 million business since he took over as an owner and CEO in 2017.

DeSantis and two equity partners acquired 365 Data Centers in April 2017, when the company, based in San Francisco at the time, owned eight data centers spread across the U.S., including in major cities like Chicago, Detroit, Indianapolis, Nashville, Philadelphia, Tampa and New York state.

“We had about 11 megawatts of power and 125,000 square feet spread across eight data centers,” DeSantis said in a recent interview with the Hartford Business Journal.

In November 2022, 365 Data Centers expanded by acquiring the U.S. colocation and network business of Sungard Availability Services.

The company now owns and operates 20 data centers, with 80 megawatts of power stretched across its facilities, which span a total of roughly 1 million square feet. It employs more than 200 people.

DeSantis estimates 365 is the 10th-largest data center operator in the United States, based on the total square footage of its locations.

“But number nine is like 10 times bigger, and number 11 might be half our size,” he said. “So, we’re kind of in that top-of-the-little-guys, small-big-guys range.”

As demand for data centers to power artificial intelligence technology grows rapidly, DeSantis said his plan moving forward is to expand methodically.

“We have consistently been value acquirers, so we certainly are always looking at opportunities to acquire a data center, but we’re very, very disciplined,” he said.

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