Digital Realty Completes Acquisition of Teraco
- Wall Street ends sharply higher as Treasury yields dip
- Apple Falls 4% on Report It Will Not Ramp Up iPhone 14 Production, Analyst Not Surprised
- Biogen (BIIB) Surges After 'Best-Case' Alzheimer's Drug Trial Results; Stock Earns Several Upgrades
- Europe Stock Outflows 'Worse Than During COVID Panic' - Citi
- Oil up 4% as Bulls Storm Back In on Hurricane, Crude Draw and Dollar Drop
Get inside Wall Street with StreetInsider Premium. Claim your 1-week free trial here.
Creates Leading Colocation and Interconnection Provider in Africa
AUSTIN, Texas, Aug. 1, 2022 /PRNewswire/ -- Digital Realty (NYSE: DLR), the largest global provider of cloud- and carrier-neutral data center, colocation and interconnection solutions, today announced the successful completion of its previously announced agreement to acquire a majority interest in Teraco, a leading carrier-neutral data center and interconnection services provider in South Africa, from a consortium of investors, including Berkshire Partners and Permira, in a transaction valuing Teraco at approximately $3.5 billion.
The acquisition of Teraco adds South Africa to Digital Realty's three existing markets on the continent, including Kenya, Mozambique, and Nigeria. The strategic importance of these four markets has been enhanced by the recent and ongoing implementation of new subsea cable networks encircling Africa. Combined with Digital Realty's highly connected facilities in Marseille, our customers have a range of strategic connectivity hubs from which to serve all corners of the African market.
As South Africa's largest and most densely interconnected data center platform, Teraco supports the rapid growth of the continent's internet community through its expanding portfolio of data centers. Teraco's experienced management team, growing multi-national customer base, quality infrastructure and ownership of NAPAfrica, the continent's largest Internet Exchange Point, are key differentiators that position the company for sustainable growth.
"We are very excited to complete this transformative transaction that positions Digital Realty as the premier data center and connectivity provider on the high-growth African continent," says A. William Stein, Chief Executive Officer, Digital Realty. "Today's milestone gives us significant regional scale and access to a premier, high-quality portfolio in Africa's largest market, enhancing our ability to serve growing customer demand for connectivity in the region. We're thrilled to strengthen our global platform and deepen our commitment to investment in Africa, as we capitalize on the tremendous opportunity in the region."
"Teraco has made significant progress in achieving our strategic objectives, including improving the connectivity and accessibility of our data centers, in supporting the rapid digital transformation in the region," says Jan Hnizdo, Chief Executive Officer, Teraco. "Africa is poised to remain a high growth, high-demand area for data center solutions and our combined, diversified platform will further enable us to support our customers in the pan-Africa region and around the world."
With the acquisition, Teraco will be known as Teraco: A Digital Realty Company.
About Digital RealtyDigital Realty brings companies and data together by delivering the full spectrum of data center, colocation and interconnection solutions. PlatformDIGITAL®, the company's global data center platform, provides customers with a secure data "meeting place" and a proven Pervasive Datacenter Architecture (PDx™) solution methodology for powering innovation and efficiently managing Data Gravity challenges. Digital Realty gives its customers access to the connected communities that matter to them with a global data center footprint of 300+ facilities in 50+ metros across 27 countries on six continents. To learn more about Digital Realty, please visit digitalrealty.com or follow us on LinkedIn and Twitter.
About TeracoTeraco, a leading carrier-neutral colocation provider in Africa, is the first provider of highly resilient, vendor-neutral data environments in sub-Saharan Africa. With its world-class data centre infrastructure and network-dense ecosystems, Teraco forms a vital part of the African Internet's backbone and is essential to the modern enterprise's digital transformation strategy. Teraco is part-owned by Digital Realty (NYSE: DLR) – offering customers a global data center platform designed to enable digital business to scale within a highly connected data community across 300+ data centers in 50+ metros and 27 countries on six continents – and a consortium of private equity investors, including Berkshire Partners LLC and Permira. For more information, please visit teraco.co.za or follow us on LinkedIn and Twitter.
For Additional Information
Media ContactsHelen BleasdaleDigital Realty+1 737 267 6822[email protected]
John Christiansen / Kevin SiegelSard Verbinnen & Co+1 (415) 618-8750 / +1 (310) 201-2040[email protected]
Investor RelationsJordan Sadler/ Jim HusebyDigital Realty+1 737 281 0101[email protected]
Safe Harbor StatementThis press release contains forward-looking statements which are based on current expectations, forecasts and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially, including statements related to the company's closing of the transaction with Teraco, the South African and African market, development plans and operations in Africa, access to subsea cables, Digital Realty's strategy, expected growth of the digital economy, customer demand, and expected benefits. For a list and description of such risks and uncertainties, see the reports and other filings by the company with the U.S. Securities and Exchange Commission. The company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
View original content to download multimedia:https://www.prnewswire.com/news-releases/digital-realty-completes-acquisition-of-teraco-301596692.html
SOURCE Digital Realty
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Randolph Bancorp (RNDB) and Hometown Financial Receive Approval to Merge, Target to Close on October 7
- Aircastle to Announce Second Quarter 2022 Results on October 12, 2022
- NEW PACIFIC FILES FORM 40-F ANNUAL REPORT
Create E-mail Alert Related CategoriesPRNewswire, Press Releases
Related EntitiesTwitter, Permira, Definitive Agreement
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!