Rapidly Growing, Hong Kong-Based Data Center Business to Anchor Regional Strategy Focused on Serving Hyperscale and Large Enterprise Client Demand
BOCA RATON, Fla.–(BUSINESS WIRE)–DigitalBridge Group, Inc. (“DigitalBridge”) (NYSE: DBRG) today announced the acquisition of the data center business of PCCW Ltd. by funds affiliated with DigitalBridge’s investment management platform.
PCCW DC is one of the region’s leading colocation data center businesses, serving global hyperscale and large enterprise customers via a rapidly growing network of facilities based principally in Hong Kong, which is a long standing financial center and key connectivity hub for the entire Asia region. PCCW DC facilities allow global hyperscalers, technology service providers, content and digital media, and financial services firms to meet their strong regional demand for storage, networking, and compute capabilities in secure and reliable environments.
“As an experienced investor in the global data center sector, DigitalBridge’s expertise investing in, building, and operating data centers to the highest standards aligns perfectly with PCCW DC’s next stage of development,” said Marc Ganzi, President and CEO of DigitalBridge. “They are already a leading operator in the region and are poised for significant growth, with a strong development pipeline and considerable expansion capacity. This is a terrific platform for DigitalBridge to expand its regional presence while supporting a strong management team focused on serving many of the same hyperscale and large enterprise customers that DigitalBridge works with on a global basis.”
The transaction, which remains subject to customary closing conditions, is expected to close during the fourth quarter of 2021.
DigitalBridge (NYSE: DBRG) is a leading global digital infrastructure REIT. With a heritage of over 25 years of investing in and operating businesses across the digital ecosystem including cell towers, data centers, fiber, small cells, and edge infrastructure, the DigitalBridge team manages a $32 billion portfolio of digital infrastructure assets on behalf of its limited partners and shareholders. DigitalBridge is headquartered in Boca Raton with key offices in Los Angeles, New York, London, and Singapore. To learn more about DigitalBridge, visit www.digitalbridge.com.
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This press release may contain forward-looking statements within the meaning of the federal securities laws. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. In some cases, you can identify forward-looking statements by the use of forward-looking terminology such as “may,” “will,” “should,” “expects,” “intends,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” or “potential” or the negative of these words and phrases or similar words or phrases which are predictions of or indicate future events or trends and which do not relate solely to historical matters. Forward-looking statements involve known and unknown risks, uncertainties, assumptions and contingencies, many of which are beyond our control, and may cause actual results to differ significantly from those expressed in any forward-looking statement. Factors that might cause such a difference include, without limitation, whether the Company will complete the acquisition of PCCW DC within the time frame anticipated or at all, whether the Company will realize any of the anticipated benefits from the acquisition, the Company’s ability to continue to execute its digital transformation and other risks and uncertainties, including those detailed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020, Quarterly Report on Form 10-Q for the quarter ended March 31, 2021, and its other reports filed from time to time with the U.S. Securities and Exchange Commission. All forward-looking statements reflect the Company’s good faith beliefs, assumptions and expectations, but they are not guarantees of future performance. The Company cautions investors not to unduly rely on any forward-looking statements. The forward-looking statements speak only as of the date of this press release. The Company is under no duty to update any of these forward-looking statements after the date of this press release, nor to conform prior statements to actual results or revised expectations, and the Company does not intend to do so.
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