Piemonte Holdings to invest 600m reais ($116m) in data centers

Piemonte Holdings, a Brazil-based firm, plans to invest 600m reais ($116m) in data centers throughout the rest of the year. The Rio de Janeiro-based firm says it will be expanding its existing data centers and buying new sites in Brazil in H2 of 2021. CEO of the firm, Alessandro Lombardi, says the Company is looking to make some acquisitions in the coming months across Brazil soon. Alessandro also says Piemonte wants to create a ‘data center federation’ in Brazil.

Piemonte is going to use the capital raised from senior lenders, as well as its capital, to fund the expansion. Alessandro Lombardi also said Piemonte’s project is a long-term one and that the Company will only target selected quality assets. The firm has been investing heavily in recent years. It recently won a bid to acquire five data centers for R$367 million ($70 million). It also agreed to acquire the data center of a Brazilian media firm Globo last month.