$400m iseek acquisition & DigiCo platform update
HMC Capital (ASX:HMC) today announces it has entered into agreements to acquire iseek, a leading Australian co-location data centre operating platform for $400m. The strategic acquisition of iseek is consistent with HMC’s recently announced strategy to establish a Global Digital Infrastructure Platform (DigiCo).
HMC’s strategy to establish the ASX-listed DigiCo REIT by calendar year end remains on track. HMC has now secured $2.5bn of strategic operating assets in Australia and is exclusive due diligence on an additional $1.6bn of data centre assets located within North America, these assets will seed the ASX-listed DigiCo Infrastructure REIT with $4bn+ of AUM.
HMC’s Managing Director and CEO, David Di Pilla said “iseek is a leading colocation data centre platform with a high quality and diverse customer base across government, hyperscale and enterprise customers. This acquisition is also highly complementary to our recent acquisition of Global Switch Australia with a number of benefits including enhanced geographic and customer diversification.”
iseek Chief Executive Officer, Scott Hicks, and Founder & Executive Director, Jason Gomersall, said “We are excited to be partnering with HMC Capital’s DigiCo platform to accelerate iseek’s next phase of growth. A significant portion of the acquisition proceeds will be taken in scrip in the DigiCo Infrastructure REIT IPO which is a testament to our strong conviction in the REIT’s investment strategy and growth runway.”
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