EdgePresence sells space for companies to place edge computing infrastructure physically closer to its end users. Such technology allows businesses to reduce latency and improve performance for applications located far from data hubs in major cities.
“Since 2018, EdgePresence has established an important strategic position at the ‘far edge,’” Edgepresence Founder and President Doug Recker said in a statement. “By joining forces with DataBank, we’ll act as a force multiplier for their edge data center strategy, helping to bring data centers closer to the data pools being created by users, enabling next-generation, data-localization strategies and applications for 5G and the (Internet of Things).”
The move comes on the heels of Databank’s acquisition of communications infrastructure firm Zayo Group Holdings Inc.’s zColo business. The purchase will more than triple the size of Databank’s data center footprint and position the company to become one of largest privately held U.S. data center operators. That deal, funded by an investor group led by Colony Capital, is expected to close near the end of the year.
Colony Capital is the largest investor and controlling shareholder in Databank through its digital infrastructure arm, Digital Colony. The position is key to Colony’s plans to shift its business to digital real estate, a transition which has become even more urgent under Covid-19 pandemic.
Colony’s legacy real estate holdings, which still make up the majority of its total assets, have been devastated by Covid-driven downturns. The company defaulted on $3.2 billion worth of hotel and healthcare loans earlier this year and shed the majority of its hotel properties in a fire sale in May.
For reprint and licensing requests for this article, CLICK HERE.
Stories You May Also Be Interested In
- Upfront Backs Glendale Cloud Security Firm
- Small Business Development Center Steps Up During Pandemic
- MGM to Be Acquired by Amazon for $8.45 Billion
- Colony Capital Sells More Legacy Holdings
- RadNet, Adventist Enter Into Joint Venture
- Levine Leichtman Closes Second European Fund
- West Adams Building Sells for $23 Million
- Upfront Names New Co-Managing Partner