Digital Realty Enters South America With Acquisition of Ascenty; Maintaining $112 FVE
On Sept. 24, narrow-moat Digital Realty announced its acquisition of Brazilian data center provider Ascenty for about $1.8 billion, about 85% in cash. It expects the deal to close before the end of the year. Ascenty will be operated as a joint venture with Brookfield Asset Management--which will contribute about $613 million cash--with each firm owning 49% of the equity and 50% of the voting rights (a 2% equity interest is going to Ascenty's current managers, who will remain in place). Digital e...Digital Realty Trust is a real estate investment trust. The company is a global provider of data center, colocation and interconnection solutions for customers across a variety of industry verticals ranging from cloud and information technology services, communications and social networking to financial services, manufacturing, energy, healthcare, and consumer products. The company's Operating Partnership, Digital Realty Trust, L.P., is the entity through which the company conducts its business of owning, acquiring, developing and operating data centers. The company's portfolio of data centers provides available environments for the exchange, processing and storage of electronic information.
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