Swiss Life Asset Managers and EDF Invest completed the acquisition of a 27% stake in DataBank for $1.2bn.

Swiss Life Asset Managers, an investment management firm, and EDF Invest, a private equity investment firm, completed the acquisition of a 27% stake in DataBank, a colocation and interconnection data centre operator, for $1.2bn. “We are delighted to have gained the trust of DataBank, its existing shareholders and its highly experienced management team and to be part of their onward journey. Due to the ongoing transformation of digital infrastructure networks, the widespread adoption of working from home, Internet of Things and 5G, the demand for cloud services as well as data storage will increase in the years to come. These are strong tailwinds for data centre platforms such as DataBank, presenting numerous growth opportunities both in the metro and mobile edge segment of the market," Gabriel Damiani, Swiss Life Asset Managers Executive Director.