- DigitalBridge Group, Inc DBRG is nearing a deal for data-center operator Switch, Inc SWCH, Bloomberg reports.
- DigitalBridge, led by CEO Marc Ganzi, outbid Brookfield Asset Management Inc BAM BAM for Las Vegas-based Switch.
- The market capitalization of Switch, led by founder, Chair, and CEO Rob Roy, is $7.4 billion.
- Switch reported Q1 results with an adjusted EPS of $0.04.
- The report noted mergers and acquisitions of data-center companies have increased, partly due to the sector’s fragmented nature and relatively strong growth dynamics.
- Price Action: SWCH shares closed higher by 3.42% at $30.83 on Tuesday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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