PAG Real Estate's Flow To Acquire DXN

PAG Real Estate’s new data center investment platform flow has acquired Australian data center company DXN. DXN currently operates three data centers in Australia. It has a 46,800 square feet (4,351 square meters) data center with 5.5MW capacity in Sydney. Its second data center is located in Hobart, Tasmania, while the third facility is located in Darwin. The Darwin facility is 3,700 square feet (350 square meters) with two data halls. DXN has also deployed over 18 modular data centers to customers.

DXN sold all its businesses and subsidiaries to Flow2Edge Australia for AU$26m ($18m) cash. The transaction also covers shares in DXN’s subsidiaries TAS01 and Secure Data Centre. After the sale, DXN will cease operation. According to PAG, the transaction will be funded through resources from PAG-managed funds. In addition, DXN said it has plans to raise AU$2.125 million (US$1.5m) by issuing shares to fund its working capital till it closes the deal.