• Public Storage for the internet's physical infrastructure.
• Prologis for digital warehouses.

• Colocation Services: Provides secure, carrier-neutral data center space, redundant power, advanced cooling systems, and physical security for customers to house their critical IT and network infrastructure.
• Interconnection Services: Offers dense connectivity solutions, including cross-connects, within data centers to enable low-latency and secure communication between customers, networks, and cloud providers.

Csquare (CSQR) primarily sells its services to other companies (B2B).

Based on the provided information, Csquare serves a diversified customer base and does not disclose specific major customer names, emphasizing that its multi-customer operating model is designed to limit reliance on any single customer or industry vertical. Therefore, individual customer company names and their symbols are not available.

However, the company broadly identifies its customers as:

• Enterprise customers
• Network customers
• Cloud customers
• Technology customers

These customers are often described as "blue-chip customers" seeking mission-critical digital infrastructure.

Spencer Mullee, Chief Executive Officer

Spencer Mullee serves as the Chief Executive Officer of Csquare. Prior to its formation, he was the CEO of Evoque. He also founded DCI Data Centers, a notable data center developer in Australia and the Asia Pacific market, where he held positions including Chief Financial Officer, Chief Operating Officer, and Board Member from 2001 to 2019. Csquare itself was formed after Brookfield Infrastructure Partners acquired Cyxtera Technologies and merged it with Evoque Data Center Solutions, and Brookfield is expected to maintain voting control post-IPO, designating Csquare as a "controlled company".

Steven Cook, Chief Financial Officer; Chief Investment and Strategy Officer

Steven Cook is the Chief Financial Officer and Chief Investment and Strategy Officer for Csquare, having joined the company in 2021. He brings extensive experience in corporate strategy, capital allocation, growth implementation, and cost reduction initiatives from previous leadership roles at Wells Fargo, Rent-A-Center, and HundredX. His involvement with Csquare, a Brookfield-backed entity, aligns with the management of private equity-backed companies.

Sean Charnock, Chief Operating Officer

Sean Charnock is the Chief Operating Officer at Csquare. He previously founded SoftLayer Technologies, a pioneering company in the cloud and IaaS sectors. His executive leadership experience spans multiple industries, including data centers, IaaS/SaaS, cloud, and cybersecurity technologies. He has played a crucial role in several large-scale venture and private equity-backed companies, which led to successful acquisitions by Siemens, IBM, and FireEye Technologies.

Catherine Smith, Chief Legal Officer and Chief Administrative Officer; Corporate Secretary

Catherine Smith serves as Csquare's Chief Legal Officer, Chief Administrative Officer, and Corporate Secretary, joining the company in 2021. She has extensive experience from both public companies and private equity-backed organizations, including senior legal roles at Motorola and Brightstar Corp.

Jaclyn Mispagel, Chief Information and Product Officer

Jaclyn Mispagel is the Chief Information and Product Officer at Csquare, responsible for leading information technology strategy and product initiatives. She joined the company in 2021 and has over 20 years of experience in leadership positions in product, information systems, and marketing at companies such as Cyxtera, CenturyLink, Windstream, and Verizon.

Colocation Services

• United States: The U.S. data center colocation market size by investment was valued at USD 43.71 billion in 2025 and is expected to reach USD 85.18 billion by 2031, growing at a compound annual growth rate (CAGR) of 11.76%. Other estimates place the U.S. market at USD 38.80 billion in 2025, projected to grow to USD 65.45 billion by 2030.
• Canada: The Canada data center colocation market was valued at USD 1.38 billion in 2024 and is projected to reach USD 2.11 billion by 2030, expanding at a CAGR of 7.33%. However, other reports indicate a market size of USD 2,541.4 million in 2024, expected to reach USD 4,597.8 million by 2030, with a CAGR of 10.7%. Another projection suggests the Canadian colocation market is estimated at US$7.832 billion in 2024 and is projected to reach US$14.360 billion in 2029.
• United Kingdom: The UK data center colocation market was valued at USD 4.12 billion in 2024 and is projected to reach USD 9.01 billion by 2030, growing at a CAGR of 13.94%.

Interconnection Services

• North America: The North America Data Center Interconnect Market size was valued at USD 3.37 billion in 2025 and is expected to reach USD 8.43 billion by 2033, at a CAGR of 12.15%. North America held the largest market share, over 38%, in the global data center interconnect market in 2024.
• United States: The U.S. data center interconnect market generated a revenue of USD 3,275.2 million in 2025 and is expected to reach USD 8,943.4 million by 2033, growing at a CAGR of 13.6% from 2026 to 2033.
• Canada: The Canada data center interconnect market is projected to reach USD 1,531.1 million by 2033, making it the fastest-growing regional market in North America.

Csquare (CSQR) anticipates several key drivers for its future revenue growth over the next two to three years, primarily stemming from its strategic operational model and prevailing market trends:

• Capital-Efficient Expansion within Existing Facilities: Csquare plans to drive revenue growth by expanding capacity within its current data center portfolio. The company has approximately 670 megawatts of embedded expansion capacity available through under-roof expansion, electrical upgrades, and infrastructure optimization, which is a more cost-effective approach than building new data centers. This strategy allows for faster deployment of customer capacity with lower capital expenditure per megawatt.
• Increased Spending and Expansion from Existing Customers: A significant portion of Csquare's new monthly recurring revenue is generated from its existing customer base. The company's interconnection-rich facilities and the mission-critical nature of its services foster strong customer retention and support incremental revenue growth through expansion deployments and additional interconnection services.
• Growing Demand from Artificial Intelligence (AI) and High-Performance Computing (HPC) Workloads: The rapid growth in AI development and deployment is a significant catalyst for Csquare. The company's facilities are designed to support high-density and AI workloads, with AI and HPC-related customers accounting for a notable percentage of recent bookings and monthly recurring revenue. Csquare can support high-density deployments through advanced cooling technologies, positioning it to benefit from the increasing demand for enterprise AI infrastructure.
• Overall Colocation Market Growth and Rising Contract Rates: Csquare operates within a colocation market that is projected to experience substantial growth. The global data center colocation services market is expected to increase significantly, with average contract rates also anticipated to rise on a compound annual basis over the next several years. This broader market expansion provides a tailwind for Csquare's core services.

Outbound Investments

• The company made acquisitions in January 2024.
• The company made acquisitions in October 2025.

Capital Expenditures

• Expansions are typically executed within existing, transformer-enabled facilities, costing approximately $4 million to $8 million per MW on a net basis.
• The primary focus of capital expenditures is on adding incremental revenue with limited reliance on new building construction.
• Capital investments support a durable runway for scalable growth, including hybrid cloud and inference use cases, within the company's portfolio of urban, carrier-neutral data centers.