Switch in talks to raise funds at $50 billion-plus valuation, The Information reports
The Switch logo is pictured on a data center in Las Vegas, Nevada, U.S., October 6, 2017. REUTERS/Chris Wattie
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June 4 : Data center developer Switch is in talks to raise billions of dollars at a valuation of at least $50 billion, The Information reported on Thursday, citing people with knowledge of the deal.
Here are some details:
• Brookfield Asset Management, KKR and other private equity and institutional investors have been in talks to invest in the round, the report said.
• The fundraising round could possibly set up Switch for an initial public offering, which could come as early as next year, according to the report.
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• Goldman Sachs and JP Morgan bankers are working with Switch to help with the fundraise, the report said.
• Switch did not immediately respond to Reuters’ request for comment outside regular business hours. Reuters could not immediately verify the report.
• Dealmaking in the data center and server industry has witnessed an uptick with the rapid growth of artificial intelligence.
• Switch was founded in 2000 by CEO Rob Roy, and is headquartered in Las Vegas, Nevada.
• The company counts Nvidia, Fedex, Tesla and Logitech among its clients, per its website.
Source: Reuters
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