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Update: Overland Park company QTS plans $300 million initial stock offering

Updated: 2013-08-19T16:41:36Z

By STEVE ROSEN

The Kansas City Star

Overland Park-based QTS Realty Trust, which provides data bases that serve businesses and government agencies, is seeking to raise $300 million through a public stock offering.

The eight-year-old company, located at 12851 Foster St., plans to use the funds primarily to repay debt, to pay for acquisitions, to finance development costs and for other general corporate purposes, according to its filing.

QTS said its shares would be listed on the New York Stock Exchange under the ticker symbol QTS. The company also said it plans to organize as a real estate investment trust.

The company described itself on its website as “one of the nation’s largest and fastest-growing” operators of secure, state-of-the-art data centers that house networks of computers and other equipment.

QTS said it has 11 locations in seven states, including several in the Kansas City area. The company has 412 employees, including 63 at its headquarters.

QTS said it added 80 new clients in the first half of 2013, and has more than 850 customers altogether.

For the six months ended June 30, QTS reported a profit of $7.1 million on revenue of $84.4 million, according to Bloomberg News.

General Atlantic LLC, a Greenwich, Conn., investment firm, plans to sell shares in the stock offering, Bloomberg News reported. The firm invested $150 million in QTS in 2009.

QTS was founded by Chad Williams, the firm’s chairman and chief executive officer.

To reach Steve Rosen, call 816-234-4879 or send email to srosen@kcstar.com.

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