Friday, January 21, 2022

Digital Realty Data Center will buy a stake in Teraco in Africa

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() – Data Center operator Digital Realty Trust said Monday it will buy a majority stake in Africa-based Teraco and valued it at about $ 3.5 billion as it grows rapidly due to a pandemic in Africa.

When governments tried to include COVID-19, home work increased the need for data centers or physical locations where computers were located to store and process data. Infrastructure and real estate funds entered the sector, along with multi-billion dollar deals.

Digital Realty, which owns more than 280 data centers around the world, said in a statement in Texas that it would buy a 55% stake in the Johannesburg-based data center services provider from a consortium of investors, including Berkshire Partners. and Permira.

The deal is expected to reduce Digital Realty’s fixed assets (FFO) by 1 percent per share in 2022 and add up after 2023.

Digital Realty CEO William Stein said the deal would increase regional scale with “a network-intensive portfolio in South Africa’s most strategically important metropolitan areas”.

Africa’s data center market has seen rapid growth from a relatively low base, as companies see local cloud storage as a way to save costs by building storage rather than building their own servers or relying on other countries.

Data consumption on the continent is also increasing as carriers and technology companies produce fiber optic cables to provide more reliable and faster internet. However, there is a need for secure local data hosting.

Teraco operates seven data centers in Johannesburg, Durban and Cape Town, serving more than 600 customers, including global Internet companies.

(1 dollar = 15.9790 rand)

Chavi Mehta’s report in Bengaluru, additional report by Nqobile Dludla in Johannesburg; Edited by Devika Syamnat and Barbara Lewis

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