ST Telemedia, which owns 40 percent of Globe’s data centers, announced a $1.3 billion transaction from a consortium that includes global investment giant KKR and Singapore Telecommunications, a part owner of Globe.
“This transaction marks the largest digital infrastructure investment in Southeast Asia to date in 2024,” ST Telemedia Global Data Centres said.
The deal size could increase to $2.22 billion following the full exercise of warrants, the statement showed.
Globe wants to bolster data center capacity by almost seven times to 150 megawatts in the coming years. It announced projects last year that would more than double capacity to 52 MW by 2026.
ST Telemedia operates over 95 data center facilities across 11 regions with a total combined capacity of 1.7 Gigawatts.
It invested in Globe’s data center business in 2022, paving the way for a significant expansion program to meet surging demand from hyperscalers. These are large cloud computing and data storage firms such as Amazon, Alibaba, and Google.
Miguel R. Camus has been a reporter covering various domestic business topics since 2009.
