SoftBank Acquires DigitalBridge For $4 Billion To Scale AI Infrastructure
Synopsis
SoftBank will acquire all outstanding DigitalBridge shares at $16 per share in cash.
SoftBank Group Corp. (SFTBY) announced on Monday that it has agreed to acquire the data center and digital infrastructure assets investment firm DigitalBridge Group, Inc. (DBRG), for approximately $4.0 billion.
The acquisition is intended to strengthen SoftBank's ability to develop and scale infrastructure critical for next-generation artificial intelligence applications.
Transaction Details
SoftBank will acquire all outstanding DigitalBridge shares at $16 per share in cash. The deal received unanimous approval from a special committee of DigitalBridge's Board and represents a 15% premium to the company's closing price on December 26.
Following the announcement, DigitalBridge stock rose more than 9% and was among the top three trending equity tickers on Stocktwits. SoftBank stock inched 0.4% higher.
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