SINGAPORE (Sept 2): Singapore-based internet infrastructure company Princeton Digital Group (PDG) reported that it has acquired assets and land for data center development in China and Singapore as part of a US$500 million ($695 million) investment to fuel its expansion across Asia.
This announcement follows PDG’s recent acquisition of a 70% stake in telco operator XL Axiata’s data centre portfolio in Indonesia, making the group the only company that owns data centres in China, Singapore, and Indonesia – three of the fastest-growing digital economies. PDG also operates in India.
In China, PDG has started construction of a 40MW data centre campus in Shanghai, with the first phase slated for completion in 1H20. The group has also acquired land for large scale data centre developments in Nanjing, Nantong and Wuxi – all of which are strategic locations for growth in China.
In Singapore, the group has acquired a 100% stake in a data centre business that was previously part of US conglomerate IO Data Centers.
Rangu Salgame, Chairman and CEO of PDG, says, “Our Shanghai project will be one of the largest data center campuses in the region and marks an exciting phase for PDG in China as we consolidate our assets and invest further for growth. In Singapore, the acquisition gives our customers a compelling solution to their scalability needs in the region’s digital hub. These transactions represent a significant step towards building a pan-Asian multibillion-dollar digital infrastructure portfolio.”
