DigitalBridge Buys Data-Center Firm Switch for $8.4 Billion (1)

A consortium led by DigitalBridge Group Inc. agreed to buy US data-center operator Switch Inc. for about $8.4 billion.

DigitalBridge and Australian infrastructure manager IFM Investors Pty are offering $34.25 per share in cash for Las Vegas-based Switch, the companies said in a statement Wednesday, confirming an earlier Bloomberg News report. The transaction values Switch at about $11 billion including debt, according to the statement.

The proposal represents a 19% premium to Switch’s closing price on March 18, the last full trading day before Bloomberg News reported Switch was exploring a sale. DigitalBridge, led by Chief Executive Officer Marc ...