HMC Capital to Acquire Data Center Operating Platform for AU$400 Million

MT Newswires Live11-11

HMC Capital (ASX:HMC) entered into an agreement to acquire the co-location data center operating platform, Iseek, for AU$400 million, according to a Monday filing with the Australian bourse.

The acquisition aligns with the company's plans to establish a global digital infrastructure platform, the filing said.

Following the deal, the company secured AU$2.5 billion in strategic operating assets. With further acquisitions of data centers in North America, the company plans to establish an ASX-listed digital infrastructure platform real estate investment trust (DigiCo REIT) with over AU$4 billion of assets under management.

The deal consideration consists of AU$150 million in cash and AU$250 million of scrip in the DigiCo REIT initial public offering.

The company plans to invest a minimum of AU$500 million in the DigiCo REIT, the filing said.

HMC Capital's shares closed up more than 4% Monday and reached an all-time high during the trading session.

Price (AUD): $10.80, Change: $+0.42, Percent Change: +4.05%

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