Global Switch Assets Acquired By Reuben Brothers

Property investors, Reuben Brothers, have concluded a deal valued at around GBP 90 million to buy out Morley Fund Management’s 25% stake in the European business of data-centre company Global Switch. The transaction will provide complete control by the company of Global Switch worldwide.

The brothers already own a 75% stake in the European assets, which include two data centres in London, and operations in Amsterdam, Madrid, Paris and Frankfurt. They separately owned Global Switch data centres in Australia and Singapore.

The European assets will now be brought together with the Australian-Asian business to create a single, global data-centre business. There are plans to budget more than GBP 170m on upgrading and expanding its facilities. Market reports suggest that the company will be valued at more than GBP 1.2 billion following the investment programme.

Following the acquisition of European data centre group IX Europe by Equinix (who have assets in North America, Asia and now Europe), they alongside Global Switch will now become the only two global data centre businesses.

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