Benzinga | Jul 26, 2021 10:05AM EDT

DigitalBridge Group Sunday Reported Purchase Of Data Center Business From PCCW, No Terms Disclosed

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.