CyrusOne Inc. is nearing a deal to be sold to a private-equity buyer that could value the data-center operator at more than $10 billion, according to people familiar with the matter.

CyrusOne is in advanced talks with at least two groups and could choose a buyer within days assuming the talks don’t fall apart, the people said. One group includes KKR & Co. and Global Infrastructure Partners and another, Brookfield Asset Management Inc., the people said.

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CyrusOne Inc. is nearing a deal to be sold to a private-equity buyer that could value the data-center operator at more than $10 billion, according to people familiar with the matter.

CyrusOne is in advanced talks with at least two groups and could choose a buyer within days assuming the talks don’t fall apart, the people said. One group includes KKR & Co. and Global Infrastructure Partners and another, Brookfield Asset Management Inc., the people said.

A transaction would be sizable given CyrusOne’s market value of around $10.5 billion.

Based in Dallas, CyrusOne is a real-estate investment trust that designs, builds and operates data centers. It owns more than 50 in North America, South America and Europe, serving over 1,000 customers, according to its website.

The company, which went public in 2013, has benefited from the explosion in data usage, which is managed in warehouselike buildings where companies can base their computer operations.

Reuters reported in September that CyrusOne was exploring a sale.

The purchase would be the latest in a string of big private-equity deals as buyout firms look to spend a mountain of cash from their investors. Less than a week ago, a private-equity group agreed to buy security-software concern McAfee Corp. for about $12 billion.

CyrusOne has had turmoil in its leadership ranks of late, with four chief executives in two years. In July, CEO Bruce Duncan stepped down suddenly after only a year in the role, and CyrusOne named David Ferdman, a co-founder who had previously served as its CEO, to the role of interim chief executive.

Mr. Duncan had taken over from Tesh Durvasula, who was named interim CEO in February 2020 following the resignation of Gary Wojtaszek.

Mr. Wojtaszek held the role for nearly nine years.

KKR, which manages $460 billion in assets, has upped its ambitions in infrastructure investing. The firm had raised nearly $15 billion so far for a new global fund as of the end of the third quarter, more than double the size of its previous vehicle.

With $79 billion in assets and offices around the globe, GIP is one of the world’s largest infrastructure investors. Its flagship $22 billion fund set a record for size when it was announced in 2019.

Brookfield’s infrastructure business manages $110 billion in assets across the utilities, transport, midstream and data sectors. Its portfolio includes 54 data centers, according to its website.

Write to Cara Lombardo at cara.lombardo@wsj.com and Miriam Gottfried at Miriam.Gottfried@wsj.com