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Benzinga
Benzinga
Business
Anusuya Lahiri

DigitalBridge Nears Deal For This Data-Center Operator

DigitalBridge Switch NYSE Rob Roy Brookfield Asset Management Inc Las Vegas Mergers
  • DigitalBridge Group, Inc (NYSE:DBRG) is nearing a deal for data-center operator Switch, Inc (NYSE:SWCH), Bloomberg reports.
  • DigitalBridge, led by CEO Marc Ganzi, outbid Brookfield Asset Management Inc (NYSE:BAM) (TSX:BAM) for Las Vegas-based Switch.
  • The market capitalization of Switch, led by founder, Chair, and CEO Rob Roy, is $7.4 billion.
  • Switch reported Q1 results with an adjusted EPS of $0.04.
  • The report noted mergers and acquisitions of data-center companies have increased, partly due to the sector’s fragmented nature and relatively strong growth dynamics.
  • Price Action: SWCH shares closed higher by 3.42% at $30.83 on Tuesday.
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