DigitalBridge sells stake in data center business DataBank for $1.2 bn

Digital infrastructure investment firm DigitalBridge Group would sell 27 percent stake in its data center platform, DataBank, to Swiss Life Asset Management and EDF Invest for about $1.2 billion in cash.
DataBank data centerDigitalBridge said it would own 15.5 percent of DataBank after the stake sale.

DigitalBridge, which bought DataBank in 2016 for an undisclosed amount, said the burgeoning demand for data and video services has helped expand DataBank’s footprint, capacity and customer base across the United States.

DataBank’s portfolio comprises more than 65 data centers and 20 interconnection hubs in more than 27 markets.

DigitalBridge in May agreed to buy data center operator Switch for $11 billion, including debt, marking a major deal in the digital asset sector that has attracted large private equity firms and infrastructure funds.