Rapidly Growing Malaysia-Based Data Center Business to Anchor Regional Strategy in Partnership with TIME dotCom
BOCA RATON, Fla.--(BUSINESS WIRE)--Nov. 21, 2022--
DigitalBridge Group, Inc. (“DigitalBridge”) (NYSE: DBRG) today announced the acquisition of an ownership stake in AIMS Group (“AIMS”) from TIME dotCom Berhad (“Time” or “TDC”) (KLSE: TIMECOM) by funds affiliated with DigitalBridge Investment Management and the formation of an edge data center platform focused on the high-growth markets of the Southeast Asia region.
AIMS is a leading operator of highly-connected ecosystem-centric data centers based in Malaysia, with its Kuala Lumpur flagship Menara AIMS facility anchoring the Malaysia Internet Exchange (MYIX). AIMS’ facilities provide highly inter-connected environments to a diverse customer base, comprising domestic and international telecommunications carriers, major enterprises, hyperscalers and content distribution networks. AIMS also operates a state-of-the-art purpose-built data center campus in Cyberjaya and a new facility in downtown Bangkok.
“DigitalBridge’s expertise in investing, building, and operating data centers to the highest standards aligns perfectly with AIMS’ next stage of development,” said Justin Chang, Managing Director and Head of Asia for DigitalBridge. “AIMS is a leading operator in the region poised for significant growth, with a strong management team, a robust development pipeline and considerable expansion capacity. This is a terrific platform for DigitalBridge, and we are excited to partner with TDC, which has a long heritage of building connectivity-linked businesses across Southeast Asia.”
The transaction, which is subject to customary closing conditions, is expected to close in 2023.
DigitalBridge (NYSE: DBRG) is a leading global digital infrastructure firm. With a heritage of over 25 years investing in and operating businesses across the digital ecosystem, including cell towers, data centers, fiber, small cells, and edge infrastructure, the DigitalBridge team manages a $50 billion portfolio of digital infrastructure assets on behalf of its limited partners and shareholders. Headquartered in Boca Raton, DigitalBridge has key offices in New York, Los Angeles, London, Luxembourg and Singapore. For more information, visit: www.digitalbridge.com.
Cautionary Statement Regarding Forward-Looking Statements
This release may contain forward-looking statements within the meaning of the federal securities laws. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. In some cases, you can identify forward-looking statements by the use of forward-looking terminology such as “may,” “will,” “should,” “expects,” “intends,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” or “potential” or the negative of these words and phrases or similar words or phrases which are predictions of or indicate future events or trends and which do not relate solely to historical matters. Forward-looking statements involve known and unknown risks, uncertainties, assumptions and contingencies, many of which are beyond our control, and may cause actual results to differ significantly from those expressed in any forward-looking statement. Factors that might cause such a difference include whether the transaction with TDC will close on the timeframe anticipated or at all, whether DigitalBridge (the “Company") will realize the anticipated benefits from the acquisition of an ownership stake in AIMS, the growth of the Company’s edge data center platform in Asia, and other risks and uncertainties, including those detailed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021, Quarterly Reports on Form 10-Q for the quarters ended March 31, 2022, June 30, 2022, and September 30, 2022, and its other reports filed from time to time with the U.S. Securities and Exchange Commission (“SEC”). All forward-looking statements reflect the Company’s good faith beliefs, assumptions and expectations, but they are not guarantees of future performance. The Company cautions investors not to unduly rely on any forward-looking statements. The forward-looking statements speak only as of the date of this current report. The Company is under no duty to update any of these forward-looking statements after the date of this release, nor to conform prior statements to actual results or revised expectations, and the Company does not intend to do so.
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Source: DigitalBridge Group, Inc.