Digital Realty Announces The Closing Of Its Joint Venture In India

Rhea-AI Summary

Digital Realty (NYSE: DLR) has officially closed its joint venture with Brookfield Infrastructure (NYSE: BIP) in India, receiving all necessary regulatory approvals. This collaboration aims to expand Digital Realty's PlatformDIGITAL® in India, catering to the growing data center market. The newly appointed CEO, Seema Ambastha, brings over 30 years of IT experience. Brookfield Infrastructure's data assets, valued at $23 billion, will support this initiative, targeting expansion from 139,000 to 175,000 telecom towers in India. This strategic move is expected to enhance the digital ecosystem in the region.

Positive

• The joint venture with Brookfield Infrastructure enables Digital Realty to expand its data center services in the rapidly growing Indian market.
• Seema Ambastha appointed as CEO brings over 30 years of industry experience, potentially enhancing leadership and strategic direction.
• $23 billion in assets belonging to Brookfield Infrastructure will support the development of additional data centers and telecommunications infrastructure.

Negative

• None.

AUSTIN, Texas, Sept. 23, 2021 /PRNewswire/ -- Digital Realty (NYSE: DLR), the largest global provider of cloud- and carrier-neutral data center, colocation and interconnection solutions, announced today that BAM Digital Realty – its Indian joint venture with Brookfield Infrastructure L.P. (TSX: BIP.UN; NYSE: BIP) and its institutional partners ("Brookfield Infrastructure") – has received all requisite regulatory approvals and the parties have closed the joint venture previously announced on July 14, 2021. 

The joint venture enables the expansion of PlatformDIGITAL®, Digital Realty's global data center platform, which supports the evolving data, control and networking demands of global service providers as well as global and local enterprises.  Its expansion across India is expected to enable customers to rapidly scale digital transformation by deploying critical infrastructure with a leading global data center provider at the heart of a growing connected data community in India.  Data centers developed in India will leverage Digital Realty's industry-leading energy-efficient data center design and operating procedures and highly repeatable Pervasive Data Center Architecture (PDx™) approach for the new digital workplace. 

In addition, Seema Ambastha has been appointed CEO of the joint venture.  Ambastha joins BAM Digital Realty from NTT Netmagic where she held the position of Senior Executive Vice President, India Sales and Solution Engineering.  Prior to that, she worked for Netmagic IT Services, Rolta, VMware, Oracle and Wipro Infotech.  She has a strong academic background with a PhD in Computer Science as well as rich experience across diverse IT disciplines spanning more than three decades. 

"We are extremely pleased that Seema has joined BAM Digital Realty at such an exciting time in the industry," said Mark Smith, Managing Director, APAC for Digital Realty.  "She brings over 20 years of strong business leadership skills across various roles in the industry.  Not only will we have a fantastic global legacy to build upon, but we have a tremendous opportunity as well.  With a population of over 1.4 billion, India is the world's fifth-largest economy in terms of GDP, with a rapidly emerging data center market and accelerating adoption of digital business models." 

To support the expected rapid growth opportunity for data centers in India, BAM Digital Realty has also recently filled multiple senior leadership positions, in the fields of Design & Construction as well as Business Development. 

"With Seema's appointment and the formal closing of the joint venture, we look forward to advancing several key strategic priorities for BAM Digital Realty and bringing together our collective capabilities to deliver a truly differentiated solution for our customers," said Arpit Agrawal, Managing Director and Head of India & Middle East, Brookfield Infrastructure.  "The joint venture expands Brookfield Infrastructure's significant global data infrastructure portfolio, which currently includes $23 billion in assets across data transmission, distribution, and storage, including a portfolio of 139,000 operational telecom wireless towers in India, which it intends to expand to 175,000 over the near term.  We are excited about what the Indian market has to offer and hope to contribute meaningfully to India's digital ecosystem." 

Additional Resources

• Digital Realty and Brookfield Infrastructure to establish joint venture to develop and operate data centers on PlatformDIGITAL® in India
• Digital Realty and Brookfield close Ascenty joint venture in Latin America
• Explore global deployment opportunities on PlatformDIGITAL®
• Visit the Data Gravity Insights Hub to learn more about data gravity and see growth forecasts in the Data Gravity Index DGx™
• Read about our open interconnection manifesto for enabling connected data communities

About Digital Realty
Digital Realty supports the world's leading enterprises and service providers by delivering the full spectrum of data center, colocation, and interconnection solutions.  PlatformDIGITAL®, the company's global data center platform, provides customers a trusted foundation and proven Pervasive Datacenter Architecture (PDx™) solution methodology for scaling digital business and efficiently managing Data Gravity challenges.  Digital Realty's global data center footprint gives customers access to the connected communities that matter to them with 291 facilities in 47 metros across 24 countries on six continents.  For more information, please visit digitalrealty.com or follow us on LinkedIn and Twitter. 

About Brookfield Infrastructure
Brookfield Infrastructure is a leading global infrastructure company that owns and operates high-quality, long-life assets in the utilities, transport, midstream and data sectors across North and South America, Asia Pacific and Europe.  We are focused on assets that have contracted and regulated revenues that generate predictable and stable cash flows.  Investors can access its portfolio either through Brookfield Infrastructure Partners L.P. (NYSE: BIP; TSX: BIP.UN), a Bermuda-based limited partnership, or Brookfield Infrastructure Corporation (NYSE, TSX: BIPC), a Canadian corporation.  Further information is available at www.brookfield.com/infrastructure. 

Brookfield Infrastructure Partners is the flagship listed infrastructure company of Brookfield Asset Management, a global alternative asset manager with over US$625 billion of assets under management.  For more information, go to www.brookfield.com. 

For Additional Information

Media Contacts
Helen Bleasdale
Digital Realty
+44 7500 044027
hcbleasdale@digitalrealty.com

Sebastien Bouchard
Brookfield
+1 (416) 943-7937
sebastien.bouchard@brookfield.com

Shveta Singh
Brookfield
+91 9004287034 (Mumbai)
shveta.singh@brookfield.com

Investor Relations
John Stewart/ Jim Huseby
Digital Realty
+1 (415) 738-6500
InvestorRelations@digitalrealty.com

Kathe White
Brookfield
+1 (416) 956-5183
kate.white@brookfield.com

Safe Harbor Statement
This press release contains forward-looking statements which are based on current expectations, forecasts and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially, including statements related to our joint venture with Brookfield, the Indian market opportunity, expectations regarding the joint venture's development plans and operations in India, expectations regarding IT load capacity of the operations of the BAM Digital Realty joint venture, expected growth in digital transformation, sustainability programs and goals, and deployment and benefits of PlatformDIGITAL®.  Our forward-looking statements are generally identified with words such as "will", "believe", "expect", "intend" and similar expressions.  For a list and description of such risks and uncertainties, see the reports and other filings by the company with the U.S. Securities and Exchange Commission.  The company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. 

 

View original content:https://www.prnewswire.com/news-releases/digital-realty-announces-the-closing-of-its-joint-venture-in-india-301383614.html

SOURCE Digital Realty

FAQ

What is the significance of Digital Realty's joint venture with Brookfield Infrastructure in India?

The joint venture allows Digital Realty to expand its data center operations in India, tapping into a rapidly evolving market.

Who is the CEO of BAM Digital Realty, and what is her background?

Seema Ambastha is the new CEO of BAM Digital Realty, bringing over 30 years of experience from various IT roles, including her previous position at NTT Netmagic.

What are Brookfield Infrastructure's plans for telecom towers in India?

Brookfield Infrastructure aims to expand its portfolio of telecom towers in India from 139,000 to 175,000 to support its data initiatives.

How does Digital Realty's PlatformDIGITAL® support customers in India?

PlatformDIGITAL® provides a global data center platform that helps customers scale their digital transformation efforts efficiently.