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May 21, 2021 at 2:01 AM EDT
DENVER, Colorado and BOCA RATON, Florida--(BUSINESS WIRE)--May 21, 2021-- 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 digital infrastructure, today announced the creation of AtlasEdge Data Centres, a European Edge data center business.
The creation of the proposed JV is subject to receipt of customary regulatory and merger control approvals. Liberty Global and Digital Colony expect the transaction to close in Q3 2021.
AtlasEdge will deliver services via an extensive network of facilities located close to consumer and enterprise end users, the “edge” of the network. The company aims to serve the growing demand from cloud providers, streaming services and enterprises for high-performance, scalable and secure facilities through which they can distribute low-latency applications and services such as 5G, gaming, IOT and edge compute. As data traffic grows and gravitates to the edge of the network, AtlasEdge’s ability to access edge connectivity and efficiently distribute mission-critical and content-heavy data traffic will be increasingly relevant.
Liberty Global will contribute digital infrastructure assets, including its technical real estate portfolios, at levels consistent with European digital infrastructure valuations, highlighting the strong underlying value embedded in its businesses. Liberty Global will also provide strategic and operational support to the business. Digital Colony will provide operating expertise, strategic direction and capital to support the significant growth and consolidation opportunity in edge co-location services across Europe.
Upon closing of the JV, seasoned industry executive Josh Joshi will join and lead AtlasEdge’s Board of Directors as Executive Chairman. Mr. Joshi has over 20 years of experience building value in the digital infrastructure sector, holding senior positions at several multinational companies including CFO of Interxion, a leading provider of carrier and cloud-neutral data center solutions across EMEA. Mr. Joshi will support the strategic growth of AtlasEdge with a focus on building the organization as well as extending its reach across European markets.
AtlasEdge will be supported by anchor tenancies from Liberty Global operating companies in four European countries: Virgin Media in the UK and in Ireland, Sunrise-UPC in Switzerland and UPC in Poland. With unprecedented local reach into consumers and businesses, AtlasEdge will provide infrastructure services to third parties at the edge with a focus on performance, low-latency, scalability, and quality of experience.
Mike Fries, CEO Liberty Global, comments: “Combining Liberty Global’s technical real estate and track record in building successful, sustainable businesses with Digital Colony’s expertise in digital infrastructure investment creates an exciting platform for growth that will deliver long-term value. The proposed joint venture presents significant growth opportunities as we look to build this business into a leading European edge data center operator. Furthermore, since several of our operating companies will become anchor tenants, Liberty Global customers will also benefit from better and more responsive services.”
“We are excited to be partnering with Liberty Global on 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 holdings and capitalize on the emerging demand we are seeing for edge compute across Europe. It’s an opportunity for us to apply the entire Digital Colony value-add playbook, leveraging our operating expertise, strategic M&A capabilities, and access to institutional capital in partnership with a world-class organization like Liberty Global. I also know AtlasEdge will benefit from Josh Joshi’s insights and network across 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 combined Sunrise UPC, as well as VodafoneZiggo, which is owned through a 50/50 joint venture. Our substantial scale and commitment to innovation enable us to invest in the infrastructure and digital platforms that empower our customers to make the most of the digital revolution.
Liberty Global delivers market-leading products through next-generation networks that connect customers subscribing to 49 million broadband, video, fixed and mobile telephony services across 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 in and operating businesses across the digital ecosystem including towers, data centers, fiber, and small cells, the Digital Colony team manages a $32 billion portfolio of 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.
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Source: Liberty Global