DataBank’s impactful evolution continues as the company recently announced a major recapitalization to invest in a 10-year plan for edge infrastructure growth in the U.S. The recapitalization will accelerate the company’s expansion efforts and allow it to capture the substantial secular growth in edge computing which they believe will be a multi-gigawatt opportunity.
The financial strategy is led by long-term institutional investors Swiss Life Asset Management AG (“SLAM”), EDF Invest (“EDF”) and current DataBank investor DigitalBridge. The initial stage of the recapitalization is being structured as a sale of ownership interest with SLAM and EDF acquiring 27% of the fully diluted equity interests in DataBank from existing investors for $1.2 billion.
“This new investor group will provide the financial backing required to continue to scale DataBank’s leading edge infrastructure platform.” – Kevin Ooley, DataBank’s President and CFO
DataBank has progressively built an ecosystem of interconnect and data center locations in over two dozen Tier 1 and Tier 2 U.S. metros that it believed would serve as the geographic foundation of a more decentralized, next-generation Internet infrastructure platform. Today, with over 65 data center assets in 27+ markets, DataBank has more data centers in more U.S. metros than any other data center provider in the US, public or private.
This transaction will catalyze the next phase of DataBank’s growth with a new group of marquis investors poised to benefit from the continued powerful infrastructure expansion at the edge and DigitalBridge’s track record and expertise investing across the digital infrastructure ecosystem.
“DataBank is strategically positioned as the leading platform to deliver geographically distributed colocation and interconnect edge solutions, as the shift from traditional centralized infrastructures continues to evolve to the edge.” – Raul K. Martynek, DataBank’s CEO
The recapitalization is also expected to result in additional new investors acquiring ownership interests in DataBank prior to the recapitalization’s expected completion in the third quarter of 2022, subject to customary closing conditions and receipt of required regulatory approvals.
To read this press release in its entirety, click HERE.
