Knowledge centre operator iseek purchased for $400m – Cloud – {Hardware} – Storage

Knowledge centre operator iseek is about to be acquired by asset supervisor HMC Capital for $400 million.

iseek has a portfolio of seven co-location information centres situated throughout Queensland, South Australia and NSW.

Its acquisition comes simply two weeks after HMC introduced plans to buy fellow co-location facility operator Global Switch Australia for $1.9 billion.

iseek presently has over 500 prospects utilizing its 6MW of put in IT capability and has plans to extend its capability to 34MW in complete.

The acquisitions will finally be owned by an actual property funding belief (REIT), named DigiCo Infrastructure, that may checklist on the ASX.

In complete, DigiCo could have 13 tier 1 and a couple of hyperscale and colocation information centres throughout Australia and North America.

In a joint statement, iseek CEO Scott Hicks and founder, government director Jason Gomersall stated the deal would “speed up iseek’s subsequent part of progress”.

“A good portion of the acquisition proceeds shall be taken in scrip within the DigiCo Infrastructure REIT IPO which is a testomony to our robust conviction within the REIT’s funding technique and progress runway,” they stated.