Digital Bridge, a three-year-old Florida company that has been using a $4 billion debt and private equity war chest to buy companies in the communications infrastructure business, has acquired Dallas-based data center provider DataBank, the first data center services company in its portfolio.
The acquisition gives the Boca Raton-based firm an entry into the data center business with substantial presence in Dallas, one of the hottest data center markets in the country, as well as in two second-tier markets: Kansas City and Minneapolis. DataBank has six data centers total, providing colocation and managed services.
Terms of the transaction were not disclosed.
Two data center industry veterans are joining the DataBank board, according to a Digital Bridge announcement. Michael Foust, co-founder and former CEO of Digital Realty Trust, is joining as chairman of the board, and Jon Mauck, former CFO of IO Data Centers, is joining both as a board member and as chief investment officer.
With new owners, DataBank is planning to expand through acquisition. “We believe DataBank has substantial capacity to grow in its existing footprint, and is well positioned to grow through the acquisition of colocation businesses and strategic developments,” Foust said in a statement.
Digital Bridge partnered with three other investors on the acquisition: Teachers Insurance and Annuity Association of America, Allstate Investments, and The Edgewater Funds.
Find all of the most recent coverage of DataBank here.