Private equity firm Silver Lake Partners is exploring a sale of Vantage Data Centers that it hopes will value the U.S. company at well in excess of $1 billion, including debt, people familiar with the matter said on Monday.

The sale process for Vantage comes amid a wave of similar deals being attempted as the sector consolidates, with real estate investment trusts and buyout firms lured by the stable cash flows some of these businesses promise.

Silver Lake has hired investment banks Royal Bank of Canada and DH Capital to run an auction for Vantage, the people said.

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While the sale process has attracted interest from both strategic and financial investors, Silver Lake may decide not to sell the company if the offers it receives are not satisfactory, the people cautioned.

The sources asked not to be identified because the matter was not public. Silver Lake declined to comment, while Vantage Data Centers, Royal Bank of Canada and DH Capital did not immediately respond to requests for comment.

Vantage Data Centers, based in Santa Clara, California, was formed in 2010 when Silver Lake acquired a data center campus formerly owned by Intel. Vantage also operates a data center campus in Quincy, Washington.

The Backbone of Mega Data Centers

U.S. businesses’ burgeoning demand for data and video is fueling a revival in fiber optic services and data storage. Many technology companies have turned to vendors such as Vantage to host and maintain their servers in a bid to cut costs.

Telecommunications firms such as Verizon vz and CenturyLink ctl have been seeking to sell their data center portfolios.

Private equity firms or companies that specialize in data centers, such as Equinix anldf and Digital Realty Trust, have been active buyers of assets.