DigitalBridge Group Inc. is a US-based investment firm that was founded by Bloomberg. I Squared Capital-owned BDx and Equinix Inc. are among the potential suitors for the data center business of Malaysia s Time Dotcom Bhd. People who are familiar with the matter said it was possible to have a conversation with the matter.
Stonepeak-backed Digital Edge and Temasek Holdings Pte's ST Telemedia Globe Data Centres are among the possible bidders, the people said, asking not to be identified because the matter is private. The people said that the suitors are conducting due diligence on the assets, known as the Aims Data Centre, as they weigh making binding offers.
The people said that the firms could still decide against any transaction because of the ongoing considerations. Representatives for STT GDC, Equinix, Time Dotcom and DigitalBridge didn't want to make a statement. In response to a query from Bloomberg News, Braham Singh, chief executive officer of BDx, said that Malaysia is a potential future location for BDx facilities as the company expands its footprint across Asia.
As people increasingly rely on technology, data center companies in Asia have been attracted strong takeover interest due to the perception that they have stable returns and ongoing growth.
The sovereign wealth fund of Malaysia, Khazanah Nasional Bhd, is backed by the sovereign wealth fund of Malaysia. Time dotcom provides fixed-line voice and broadband services to consumers and businesses, as well as enterprise solutions in areas such as cloud and security. According to its latest annual report, the company has stakes in providers in Thailand and Vietnam, as well as in Malaysia. The firm's shares have dropped by 5% this year, valuing it at around $1.8 billion.
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