Global Switch is in talks to sell a stake in its UK business to help fund its expansion plans.
The data center operator has engaged UBS to help broker a sale of part of the company to raise up to £1.5 billion ($1.95bn) in additional capital.
DCD understands that Global Switch is targeting financial investors, and intends to retain control of its London data centers. Talks are still at an early stage, and the sale may not go ahead, according to people familiar with the discussions who asked not to be named.
Global Switch declined to comment. The story was first reported by Bloomberg.
The company operates two data centers in London’s Docklands - London East and London North - and earlier this year officially announced plans for a third site, London South, which will offer 40MW across 27,000 sqm (290,625 sq ft). When complete, it will take the size of the company’s London campus to 115,000 sqm (1.2 million sq ft) with 126MVA of utility power supply capacity.
As reported by DCD, Global Switch is looking to expand into new markets, and earlier this month parted company with its Australian business unit, selling it to investment fund HMC Capital for AU$2.12 billion (US$1.41bn).
One new market it could enter is Malaysia. According to a report from credit rating agency Fitch, Global Switch is looking at a “proposed land acquisition in Johor.”
The city has become a hotbed for data center investment over recent months due to its proximity to Singapore, where new digital infrastructure investments have been subject to a moratorium for several years.
