DigitalBridge and IFM Investors have announced the acquisition of Switch Inc. for $11 billion. The acquisition plan was first announced in May 2022. The deal sees Switch Inc. go private and delisted from the New York Stock Exchange. The Switch Inc. asset was highly coveted, and DigitalBridge had to beat many competitors, including Brookfield Asset Management.
The CEO of Switch, Rob Roy, said: “We are excited to embark on the next chapter of Switch’s evolution in partnership with DigitalBridge and IFM Investors, two leading digital infrastructure investment firms. With their strategic expertise and financial resources, Switch is ideally positioned to meet growing customer demand for the world’s most advanced and environmentally sustainable data center infrastructure.” Switch has an impressive data center portfolio with prime campuses in Reno, Las Vegas, Grand Rapids, and Atlanta. The company is also developing a large facility in Texas.
DigitalBridge Investment Management’s senior managing director, Jon Mauck, commented on the development. He said, "We are delighted to partner with Rob and the Switch team as DigitalBridge continues to grow our global portfolio of high-quality digital infrastructure assets. With a shared vision for the future of communications infrastructure, Switch, IFM Investors, and DigitalBridge are ideal partners. Together, we will scale Switch’s business domestically and internationally to meet the robust enterprise demand for mission-critical digital infrastructure.”
