(Reuters) -Data center operator Switch Inc said on Wednesday it would be taken private by digital infrastructure firm DigitalBridge Group Inc for $8.38 billion in cash.
The offer values each share of Switch at $34.25, an almost 15% premium to the company’s closing price on May 9 when talks of the deal were first reported.
A shift to hybrid working models and increasing usage of enterprise software during the pandemic has given a fillip to data center businesses, propping up investor interest in the sector.
The deal is expected to close in the second half of this year.
(Reporting by Tiyashi Datta in Bengaluru; Editing by Aditya Soni)
