Digital Bridge Holdings LLC of Boca Raton, FL announced yesterday that it has acquired private Dallas-based DataBank, Ltd., a provider of enterprise-class data center solutions including co-location, managed services, and cloud and network services.
Reuters reported that while the global communications infrastructure company did not disclose how much the sale was worth, a source said that the deal “was valued in the hundreds of millions of dollars.” This was Digital Bridge’s first acquisition of a data center company. Reuters noted that the company previously invested in small cell tower company ExteNet Systems and Vertical Bridge, a wireless infrastructure company. Digital Bridge told Reuters that it plans to invest $500 million of equity into the U.S. data center space. DataBank was sold by private equity firm Avista Capital Partners.
Digital Bridge Chief Executive Marc Ganzi said in an interview with Reuters, “This is a great launching pad to do more investments in data centers. DataBank has a premier brand and reputation. We are excited to have them as part of our portfolio, and to create a platform for growth and further industry consolidation.”
DataBank currently has six data centers. According to the statement, DataBank’s footprint and top-tier facilities “are dedicated to providing uninterrupted access to customer data, applications and IT equipment.” Its suite of managed services “provides business solutions for corporate enterprises including hybrid cloud services, customized IT deployments, and industry compliant regulations to meet the outsourcing needs for IT management, maintenance and operations.”
Digital Bridge has partnered with Teachers Insurance and Annuity Association of America, Allstate Investments and The Edgewater Funds in the acquisition. As part of the deal, Michael Foust, founder and former CEO of Digital Realty Trust, will join the board of the company.
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