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AtlasEdge will serve growing European demand for scalable data center capacity that brings applications and content closer to the Edge
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Liberty Global contributing digital real estate holdings into the Joint Venture (JV), highlighting strong underlying value while unlocking growth potential in partnership with Digital Colony
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JV will create a European Edge infrastructure platform with over 100 active Edge facilities
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Seasoned industry executive Josh Joshi to become the Executive Chairman of the AtlasEdge Board of Directors upon closing of the JV, with a focus on extending the organization across Europe
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JV is expected to launch during Q3 2021 and is subject to regulatory approvals and other customary closing conditions
Liberty Global, one of the world’s leading converged video, broadband and communications companies, and Digital Colony, a leading global investment firm dedicated to digital infrastructure, announced the creation of AtlasEdge Data Centres, a European Edge data center business.
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“We are excited to be partnering with Liberty Global on the development of AtlasEdge”
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.
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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.
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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.”
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