Princeton Digital Group (PDG) has acquired assets and land for data centre development in China and Singapore, as part of US$500 million investment plans to accelerate expansion across Asia.
In Singapore, the provider has acquired a 100 per cent stake in a data centre business which was formerly part of IO Data Centers, a major US operator.
Meanwhile in China, PDG has started construction of a 40MW data centre campus in Shanghai, with the first phase to be completed in H1 2020, in addition to acquiring land for "large-scale" data centre developments in Nanjing, Nantong and Wuxi, billed as “strategic locations of growth” in China.
The move sees the Singapore-based investor, developer and operator of internet infrastructure now own data centre facilities in Singapore, Indonesia and China.
“In Singapore, the acquisition gives our customers a compelling solution to their scalability needs in the region’s digital hub,” said Rangu Salgame, chairman and CEO, PDG. “Our Shanghai project will be one of the largest data centre campuses in the region and marks an exciting phase for PDG in China as we consolidate our assets and invest further for growth.
“These transactions represent a significant step towards building a pan-Asian multibillion-dollar digital infrastructure portfolio.”
The investment round comes two months after PDG acquired a 70 per cent stake in XL Axiata’s data centre portfolio in Indonesia, amid increased in-country digital spending.
Operating as the second largest national telecommunications provider, XL Axiata owns five data centres across Indonesia.
The joint venture - named Princeton Digital Group Data Centres - will enable Singapore-based PDG to establish a “strategic presence” in Indonesia, which is poised to become the largest digital economy in Southeast Asia by 2025.
As reported by Channel Asia, the new entity will be a carrier-neutral data centre operator with the ability to "scale significantly" to serve hyper-scalers, domestic unicorns, enterprises and telcos.