ST Telemedia Buys 49 Percent Stake In VIRTUS Data Centres
Singapore investment firm to help VIRTUS expand data centre business with “significant investment”
A Singapore-based investment firm has bought a 49 percent stake in British data centre provider VIRTUS.
Singapore Technologies Telemedia (ST Telemedia) will help fund VIRTUS’ UK expansion, as well as get a stronger foothold in the fast-changing European data centre market.
Rapid growth
Neil Cresswell, CEO of VIRTUS Data Centres said: “VIRTUS has experienced rapid growth in the last five years. The addition of ST Telemedia to our existing relationship with Brockton Capital will support our growth plans to expand our data centre footprint and services in key markets.”
ST Telemedia’s subsidiary STT GDC will be the one staking the claim for 49 percent of VIRTUS, which opened its LONDON2 data centre in Hayes last year. The remainder of the company remains with Brockton Capital.
ST Telemedia Executive Director Sio Tat Hiang said: “ST Telemedia’s investment into VIRTUS is at a fitting time for Europe’s data centre market, particularly in the top-tier, carrier-neutral segment, where we’re seeing attractive growth opportunities.”
ST Telemedia has a colourful history of data centre investments. In the late 1990s and early 2000s, the company launched i-STT which later merged with Equinix.
Level 3 Communications also falls under ST’s portfolio. The company owns 350 carrier-neutral data centres globally.
“It’s exciting to be forming a partnership with a global organisation with the pedigree and track record of ST Telemedia,” said Cresswell. “Its experience and reach…will hugely benefit our customers.”
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