HMC Capital announced a A$400 million deal to acquire iseek, a Brisbane-based digital infrastructure company that offers data center services.
HMC Capital is a Sydney-based alternative asset manager that’s working toward creating a global digital infrastructure platform. Iseek will serve as a seed asset for the establishment of DigiCo REIT, which remains on track for an Australian Stock Exchange IPO, or initial public offering, before the end of the year, according to a statement from HMC Capital.
“This acquisition is also highly complementary to our recent acquisition of Global Switch Australia with a number of benefits including enhanced geographic and customer diversification,” HMC Capital Managing Director and CEO David Di Pilla said in the company’s statement.
According to HMC Captital, the DigiCo REIT portfolio will encompass 13 data centers in Australia and North America along with a planned IT capacity of 238 megawatts.
