American real estate investment trust, Digital Realty, has agreed to acquire a majority stake in South African data centre and interconnection solutions provider, Teraco Data Environments. This is according to a statement made available by Teraco.
After the deal which is expected to be closed in the first half of 2022, Digital Realty will own approximately 55% of the total equity interests in Teraco, while the remaining 45% will be held by a consortium of existing shareholders, including management, Berkshire Partners LLC, Permira, van Rooyen Group, Columbia Capital, Stepstone Ventures and the Teraco Connect Trust.
According to the Teraco statement, Digital Realty entered into a definitive agreement to acquire a majority stake in Teraco from a consortium of investors, including Berkshire Partners and Permira.
Teraco also says the transaction will result in a powerful combination providing Teraco continued access to capital to grow. And being backed by a global leader like Digital Realty will enable Teraco to access skills and knowledge from the Digital Realty global platform and continue to grow the Teraco ecosystem.
CEO of Teraco, Jan Hnizdo says the company is excited to enter into its next chapter by joining forces with Digital Realty to create a truly global, scaled platform serving our customers in Africa and beyond.
“Our combined platform will be uniquely positioned to serve the full customer spectrum with the ability to support their growth around the world. We look forward to working with the Digital Realty team to extend our state-of-the-art data centre and connectivity solutions to capitalise on the favourable industry trends and tremendous market opportunity.”
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