Digital Colony, a global investment firm announced that a Digital Colony affiliate has entered into a binding agreement to acquire 100 percent of the capital in Digita Oy. Digital Colony is a joint venture between Digital Bridge Holdings and property investment management firm Colony NorthStar. The company is also Finland’s largest independent tower network owner, providing infrastructure solutions to the country’s largest mobile network operators.
Digita is the owner and operator of the premier nationwide digital terrestrial television (“DTT”) and radio broadcasting tower infrastructure network in Finland. Founded in 1999 as a spin-off from national broadcaster Yle, Digita is Finland’s leading TV and radio broadcasting network and the only platform with the ability to reach nearly 100 percent of the Finnish population. Digita will continue to be led by CEO Juha-Pekka Weckström and the existing management team.
“Digita is well-positioned to extend its business model into adjacent markets as the deployment of 5G will increase demand for new macro towers, rooftop sites, small cell deployments, and data centers,” said Ben Jenkins, Managing Partner at Digital Colony. “We look forward to partnering with Digita’s highly experienced team to ensure that the company’s processes and systems remain best in class to provide customers state-of-the-art solutions across the entire value chain.”
Financial terms of the transaction were not disclosed. Bank of America Merrill Lynch and ICECAPITAL were financial advisors.