Several firms are looking into $11bn Global Switch buyout

Nov 24, 2021 | Posted by AbdulRahmanOladimeji

Several data center and investment firms are mulling over the acquisition of data center firm Global Switch Holdings. According to Bloomberg, KKR and Blackstone Inc. are the likely forerunners of acquiring Global Switch. Equinix, Digital Realty, and DigitalBridge have also shown interest in acquiring the data center firm. Global Switch Holdings was founded in 1998, and it operates 13 data centers across Asia, Australia, and Europe. In 2016, Chinese steel company Jiangsu Shagang Group took over Global Switch for three years starting in 2016.

Ever since Jiangsu Shagang Group got involved in the firm, the Australian government began moving their applications and data out of Global Switch’s data centers. It cited security concerns as the reason for the movement. Earlier in the year, the Australian Securities commission announced it would leave Global Switch’s data centers and move to Canberra Data Centres. In addition, the Australian Government set a deadline of July 2022 for all federal parastatals and agencies to leave Global Switch’s data center on national security grounds. Global Switch is now exploring a sale.

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