Digital Colony Completes Acquisition of Digita Oy (PR)

BOCA RATON, Fla. and HELSINKI /PRNewswire/ -- Digital Colony, a global investment firm focused on enabling the next generation of mobile and internet infrastructure, today announced that an affiliate of Digital Colony has completed its previously announced acquisition of Digita Oy ("Digita") from First State Investments. The transaction was originally announced on April 11, 2018.

Based in Helsinki, Finland, Digita owns and operates the premier, nationwide digital terrestrial television and radio broadcasting tower infrastructure network in Finland and is the largest independent owner of telecom towers in the country. The company is also fully integrated across the digital infrastructure value chain, providing telecom tower infrastructure, data center, and Internet of Things solutions to the country's largest mobile network operators, internet and media companies, utilities, and real estate owners.

"We look forward to working with the Digita team to accelerate the growth of Finland's leading digital infrastructure company," said Ben Jenkins, Managing Partner at Digital Colony. "We are confident there is a tremendous opportunity for the company to build on its market leadership position given its integral role in the digital communications value chain and ahead of the deployment of 5G technology."

"I truly believe that partnering with Digital Colony is the best next step in the evolution of our company as we continuously strive to provide creative solutions to each of our customers and partners," said Juha-Pekka Weckström. CEO at Digita. "Their operational expertise when it comes to towers, small cells, data centers and Internet of Things will be instrumental as we continue our expansion into new business verticals."

Bank of America Merrill Lynch and ICECAPITAL served as financial advisors, with Roschier acting as legal advisor to First State. Ashurst LLP provided legal counsel to Digital Colony.