MC is set to pay AU$400 million ($264m) for Australian data center operator iseek as it prepares to publicly list its digital infrastructure portfolio in a move that could raise $AU4 billion ($2.64bn). The asset manager will form a new company, DigiCo Real Estate Investment Trust (REIT), which will be listed on the Australian Stock Exchange, according to a regulatory filing on Monday.
“Iseek is a leading colocation data center platform with a high-quality and diverse customer base across government, hyperscale, and enterprise customers,” said HMC managing director and CEO David Di Pilla. “This acquisition is also highly complementary to our recent acquisition of Global Switch Australia with a number of benefits including enhanced geographic and customer diversification.”
In a joint statement, the pair said: “A significant portion of the acquisition proceeds will be taken in scrip in the DigiCo Infrastructure REIT IPO, which is a testament to our strong conviction in the REIT's investment strategy and growth runway.
