SoftBank has closed on its purchase of digital infrastructure investor DigitalBridge.

SoftBank Group this week announced that it has completed the acquisition of all the outstanding common stock of DigitalBridge Group for approximately $3.1 billion.

As a result, DigitalBridge has become a controlled subsidiary of SoftBank Group and will continue to operate as a separately managed platform, led by current CEO Marc Ganzi. The deal does not involve any of DigitalBridge's portfolio companies.

The two companies announced the deal back in December. As a result of being taken private, DigitalBridge will no longer be listed on the New York Stock Exchange.

DigitalBridge’s financial position and results of operations will be included in SoftBank’s consolidated financial statements from the date of acquisition.

DigitalBridge is one of the major digital infrastructure investors globally, with more than $108 billion of assets under management, including stakes in AIMS, AtlasEdge, DataBank, Switch, Takanock, Vantage Data Centers, and Yondr Group. Alongside data center investments, DigitalBridge owns stakes in telecoms towers and fiber networks.

What is now DigitalBridge was founded as Colony Capital in 1991. Ganzi, meanwhile, founded Digital Bridge in 2013. Colony acquired Digital Bridge in 2019 for $325m, with the combined company rebranding to DigitalBridge in 2021 and selling most of its non-digital assets.