DigitalBridge buys data center company Switch for $11 billion

By Anirban Sen
The Switch logo is pictured on a data center in Las Vegas Nevada U.S. October 6 2017. REUTERSChris Wattie

The Switch logo is pictured on a data center in Las Vegas, Nevada, U.S., October 6, 2017. REUTERS/Chris Wattie

(Reuters) -DigitalBridge Group Inc has agreed to buy data center operator Switch Inc for $11 billion, including debt, marking the latest deal in the digital asset sector that has attracted large private equity firms and infrastructure funds.

Boca Raton, Florida-based DigitalBridge and Australian infrastructure investor IFM Investors are teaming up to take Las Vegas-based Switch private for $34.25 a share, the companies said on Wednesday. That represents a premium of 15% to Switch's closing price on May 9 when talks of the deal were first reported.

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