Update: The $11 billion deal is now official. More here.

Digital infrastructure investment firm DigitalBridge has entered into acquisition negotiations with data center firm Switch.

The company is competing with Brookfield Asset Management and other suitors after Switch began exploring a sale earlier this year.

A deal could be announced as soon as today, when Switch is set to report its earnings.

Switch Pyramid
– Switch

Bloomberg reports that DigitalBridge is in negotiations with Switch, currently worth around $7 billion.

Switch operates its large 'Prime' data center campuses in Reno, Las Vegas, Grand Rapids, and Atlanta. It is building a large data center in Texas, where it also bought Data Foundry for $420m.

The company also has an Edge business, teaming up with Dell to build Edge data centers at FedEx locations across the US.

In 2021, investment group Colony Capital sold off most of its non-digital assets and rebranded as DigitalBridge. Under both brands, the company has aggressively acquired data center and digital infrastructure businesses, and raised billions for its investment fund.

The company owns DataBank, Scala Data Centers, Landmark Dividend LLC, PCCW's data centers, and has large stakes in Vantage Data Centers and AtlasEdge, to name but a few. This month, DigitalBridge acquired AMP Capital’s global infrastructure equity investment management business.

Earlier this year, it emerged as a potential suitor for Global Switch, which is also aiming to go private.

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