Liberty Global and Digital Colony launch a JV to develop Edge data centers in Europe
DENVER, Colorado and BOCA RATON, Fla .– (BUSINESS WIRE) – Liberty Global (NASDAQ: LBTYA, LBTYB and LBTYK), one of the world’s leading converged video, broadband and communications companies, and Digital Colony, a leading global investment firm dedicated to infrastructure digital, today announced the creation of AtlasEdge data centers, a European edge data center company.
The establishment of the proposed joint venture is subject to the receipt of customary regulatory and merger review approvals. Liberty Global and Digital Colony expect the transaction to close in the third quarter of 2021.
AtlasEdge will provide services through an extensive network of facilities located close to consumer and enterprise end users at the “edge” of the network. The company aims to meet the growing demand from cloud providers, streaming services and enterprises for high performance, scalable and secure installations through which they can distribute low latency applications and services such as 5G, gaming. , IOT and periphery calculation. As data traffic grows and gravitates to the edge of the network, AtlasEdge’s ability to access edge connectivity and efficiently distribute critical and content-laden data traffic will become increasingly relevant.
Liberty Global will bring digital infrastructure assets, including its technical real estate portfolios, to levels consistent with European digital infrastructure valuations, underscoring the strong underlying value of its business. Liberty Global will also provide strategic and operational support to the company. Digital Colony will provide operational expertise, strategic direction and capital to support the significant opportunity to grow and consolidate cutting-edge co-location services across Europe.
Upon closing of the JV, Josh Joshi, a seasoned industry executive, will join and lead the AtlasEdge Board of Directors as Executive Chairman. Mr. Joshi has more than 20 years of experience in creating value in the digital infrastructure industry, holding senior positions in several multinational companies, including the CFO of Interxion, a leading provider of center solutions. neutral data for carriers and the cloud in the EMEA region. Mr. Joshi will support AtlasEdge’s strategic growth with a focus on growing the organization and expanding its reach into European markets.
AtlasEdge will be supported by key tenants of Liberty Global’s operating companies in four European countries: Virgin Media in the UK and Ireland, Sunrise-UPC in Switzerland and UPC in Poland. With unprecedented local reach to consumers and businesses, AtlasEdge will deliver infrastructure services to third parties on the edge with a focus on performance, low latency, scalability and quality of experience.
Mike Fries, CEO of Liberty Global, comments: “The combination of Liberty Global’s technical real estate and track record of building successful and sustainable businesses with Digital Colony’s expertise in investing in digital infrastructure creates an exciting platform for growth that will deliver long-term value. The proposed joint venture presents significant growth opportunities as we seek to establish this company as a leading data center operator in Europe. In addition, as many of our operating companies will become key tenants, Liberty Global clients will also benefit from better and more responsive services. ”
“We are delighted to partner with Liberty Global for the development of AtlasEdge,” adds Marc Ganzi, President and CEO of Colony Capital and CEO of Digital Colony. “The proposed joint venture will unlock the growth potential of Liberty’s digital real estate assets and capitalize on the emerging demand we are seeing for edge computing across Europe. This is an opportunity for us to apply the entire value-added manual of Digital Colony, leveraging our operational expertise, our strategic capabilities in mergers and acquisitions and access to institutional capital in partnership with a world-class organization like Liberty Global. I also know that AtlasEdge will benefit from Josh Joshi’s knowledge and network in the digital infrastructure landscape.. “
Further information, including organizational updates and other relevant news regarding the proposed JV, will be available at www.atlasedge.eu.
ABOUT LIBERTY GLOBAL
Liberty Global (NASDAQ: LBTYA, LBTYB and LBTYK) is one of the world’s leading converged video, broadband and communications companies, with operations in seven European countries under the consumer brands Virgin Media, Telenet, UPC, the Sunrise UPC, as well as VodafoneZiggo, which is owned by a 50/50 joint venture. Our scale and commitment to innovation allows us to invest in the digital infrastructure and platforms that enable our customers to make the most of the digital revolution.
Liberty Global delivers market-leading products through next-generation networks that connect customers who subscribe to 49 million broadband, video, landline and mobile telephony services through our brands. We also have significant investments in ITV, All3Media, ITI Neovision, LionsGate, the Formula E racing series and several regional sports networks. For more information, please visit www.libertyglobal.com.
ABOUT DIGITAL COLONY
Digital Colony is a leading global investment firm dedicated to digital infrastructure. With a heritage of over 25 years investing and operating businesses across the digital ecosystem, including towers, data centers, fiber and small cells, the Digital Colony team manages a portfolio of 32 billion dollars in digital infrastructure assets on behalf of its shareholders and limited partners. Digital Colony, a subsidiary of Colony Capital Inc. (NYSE: CLNY), is headquartered in Boca Raton, Florida, with offices in New York, Los Angeles, London, and Singapore. For more information, please visit www.digitalcolony.com.