M&A Deal Summary

DigitalBridge Group and IFM Investors Private Equity Acquire Switch

On December 6, 2022, infrastructure investor DigitalBridge Group and private equity firm IFM Investors Private Equity acquired information technology company Switch for 11.0B USD

Acquisition Highlights
  • This is DigitalBridge Group’s 5th and IFM Investors Private Equity’s 1st transaction in the Information Technology sector.
  • This is DigitalBridge Group’s 2nd and IFM Investors Private Equity’s largest (disclosed) transaction.
  • This is DigitalBridge Group’s 8th and IFM Investors Private Equity’s 4th transaction in the United States.
  • This is DigitalBridge Group’s 1st and IFM Investors Private Equity’s 1st transaction in Nevada.

M&A Deal Summary

Date 2022-12-06
Target Switch
Sector Information Technology
Buyer(s) DigitalBridge Group
IFM Investors Private Equity
Deal Type Going Private
Deal Value 11.0B USD

Target

Switch

Las Vegas, Nevada, United States
Switch provides colocation, connectivity, and cloud services for large corporations, mid-sized enterprises, government agencies and other businesses conducting mission-critical business on the Internet in North America. Switch was founded in 2000 and is based in Las Vegas, Nevada.

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Buyer(S) 2

Buyer
DESCRIPTION
DigitalBridge's headquarters in Boca Raton, Florida.
DigitalBridge's headquarters in Boca Raton, Florida.

DigitalBridge Group is a global digital infrastructure investment firm. The Firm looks to acquire a variety of assets and operating businesses spanning cell towers, data centers, fiber, small cells, and edge infrastructure. DigitalBridge is headquartered in Boca Raton, Florida.


DEAL STATS #
Overall 13 of 13
Sector (Information Technology) 5 of 5
Type (Going Private) 3 of 3
State (Nevada) 1 of 1
Country (United States) 8 of 8
Year (2022) 2 of 2
Size (of disclosed) 2 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-08-02 Xenith IG

Singapore, Singapore

Xenith IG is a dark fiber network provider in Asia Pacific and serves mission critical data centers, hyperscalers and enterprises with high capacity, dark fiber. Xenith IG is based in Singapore.

Buy -
DESCRIPTION

IFM Investors Private Equity is the private equity arm of global investment manager IFM Investors. IFM Investors Private Equity looks to acquire and invest in mid-sized Australian and New Zealand companies focused on growth. The Group is sector agnostic with a preference for healthcare, consumer brands, technology/media, and business services companies. IFM Investors Private Equity is based in Melbourne.


DEAL STATS #
Overall 24 of 28
Sector (Information Technology) 1 of 2
Type (Going Private) 1 of 1
State (Nevada) 1 of 1
Country (United States) 4 of 5
Year (2022) 5 of 5
Size (of disclosed) 1 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-11-16 PRP Diagnostic Imaging

Hornsby, Australia

PRP Diagnostic Imaging is a provider of high quality, advanced diagnostic imaging services in Sydney and across New South Wales with 25 practices and a long-term track record of growth. PRP Diagnostic Imaging was founded in 2008 and is based in Hornsby, Australia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-01-31 GreenGasUSA

North Charleston, South Carolina, United States

GreenGasUSA is a renewable natural gas (“RNG”) developer, owner, and operator that utilizes mature technologies to capture, purify and transport biogas from existing organic waste streams for its end use as pipeline quality RNG. GreenGasUSA is based in North Charleston, South Carolina.

Buy -