US hyperscale data center solutions company EdgeConneX today announced that it has agreed to acquire Israel-based data center operator Global Data Center (GDC). GDC's highly secure underground data centers in Herzliya and Petah Tikva will become part of EdgeConneX global data center platform. No financial details were disclosed but media reports suggest the acquisition was for more than $200 million.
EdgeConneX CEO Randy Bruckman said, "I am pleased to announce the expansion of the EdgeConneX global footprint to the Middle Eastern region with the acquisition of GDC. As always, the Company’s focus is on its customers and providing them with the capacity they want, where they want it, and when they want it. In the case of Israel, GDC’s talented leadership team, strong operational track record and existing infrastructure helps us accelerate meeting these requirements by providing a ready-made solution with a premium platform that is already well established in the market."
Global Data Center was founded in 2013 by CEO Moshe Lasman in cooperation and with the financial backing of private equity investment firm Viola Group. Both the company's underground data centers are built in accordance with the Tier 3 Uptime global standard that serves as the current standard for advanced data centers.
Lasman said, "Global Data Center is joining EdgeConnex following seven years of great momentum in our business. EdgeConneX brings over a decade of experience building out a global data center platform that includes approximately 50 data centers in over 40 markets around the world and spans everything from hyperlocal edge facilities to hyperscale data center campuses. Together we will be able to best serve the local data center infrastructure needs in Israel and global requirements anywhere in the world.
He added, "For our Israeli customers, nothing changes practically in regard to Global Data Center, organizationally, operationally, or strategically. I will continue to lead the business in Israel and the rest of the GDC team will remain in place. The GDC teams supporting each customer will continue to perform in the same manner as before. If anything, we will look to further grow and augment the existing teams with additional talent and continue to operate our data centers as before. We will provide each customer with the space, power, and connectivity, where they need it to best serve their needs and that of their customers."
Jefferies served as the exclusive sell side financial advisor to GDC.
Published by Globes, Israel business news - en.globes.co.il - on August 16, 2021
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