Liberty Global, Digital Colony To Launch AtlasEdge JV To Develop Edge Data Centers In Europe

(RTTNews) - Liberty Global (LBTYA, LBTYB and LBTYK), a video, broadband and communications company, announced Friday its partnership with Digital Colony, an investment firm dedicated to digital infrastructure, to launch a joint venture to develop Edge Data Centers in Europe.

The creation of the proposed JV, AtlasEdge Data Centres, is subject to receipt of customary regulatory and merger control approvals.

Liberty Global and Digital Colony expect the transaction to close in the third quarter.

AtlasEdge will provide infrastructure services to third parties at the edge with a focus on performance, low-latency, scalability, and quality of experience. AtlasEdge will deliver services through an extensive network of facilities located close to consumer and enterprise end users, the "edge" of the network.

The JV will be supported by anchor tenancies from Liberty Global operating companies in four European countries: Virgin Media in the UK and in Ireland, Sunrise-UPC in Switzerland and UPC in Poland.

In the JV, Liberty Global will contribute digital infrastructure assets, including its technical real estate portfolios, at levels consistent with European digital infrastructure valuations. Liberty Global will also provide strategic and operational support to the business.

Further, Digital Colony will provide operating expertise, strategic direction and capital to support the significant growth and consolidation opportunity in edge co-location services across Europe.

Upon closing of the JV, Josh Joshi will join and lead AtlasEdge's Board of Directors as Executive Chairman.