LONDON, 8 June 2022, Global Switch (“Global Switch” or the “Company”), a leading owner, operator and developer of large-scale network dense, carrier and cloud neutral multi-tenanted data centres in Europe and Asia-Pacific, confirms that shareholders in the Company are exploring a potential divestment transaction. This confirmation updates the Company’s earlier announcement on 25 November 2021.
Following strong inbound international investor interest, Global Switch’s shareholders have informed the Company that they have mandated four global investment banks including J.P. Morgan, Morgan Stanley, UBS and CITIC Securities as joint financial advisors on the potential divestment transaction. The banks will now commence a formal process to explore options to introduce international investors to create liquidity for their stakes and accelerate the Company’s growth strategy.
Global Switch’s leadership team, led by its executive directors Chief Executive Officer, John Corcoran and Chief Financial Officer, David Doyle, welcome this clarification from shareholders and will be actively engaged in the transaction process.
There is no certainty that any transaction will proceed. Any further announcements will be made in due course, as and when appropriate. In the meantime, the Company will continue to execute its business plan and further implement its successful growth strategy, with no changes to the strategic direction, leadership or financial and operational policies.
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About Global Switch
Global Switch is a leading owner, operator and developer of large-scale, carrier and cloud neutral, multi-customer data centres in Europe and Asia-Pacific. Founded in 1998, Global Switch has a proven business model, demonstrable track record and is the equal highest credit rated data centre company in the world with investment grade credit ratings from Fitch Ratings, Moody’s and S&P Global Ratings.
Global Switch is a vital strategic partner for customers that require secure and resilient data centre services with scalable capacity and a high-level of customer service. The Company's focus is on highly resilient, central, low latency, network dense locations in prime city centre locations and internet hubs close to its customers on the edge of financial and business districts. Global Switch’s data centres operate exclusively in the Tier I markets of Europe and Asia-Pacific to Tier III or higher and currently total around 428,000 sq m (4,600,000 sq ft) of floor space and are occupied by a broad range of customers, global and national, large and small including government organisations, financial institutions, enterprises, global systems integrators, telecommunication carriers, cloud and managed service providers and other hosting businesses.
For more information visit: www.globalswitch.com.