Sydney-founded global data centre company AirTrunk is now officially a part of finance behemoth Blackstone in the largest transaction in Australia this year.
With just eight days to go until the end of the year, Blackstone announced it closed the acquisition of Australian data centre provider AirTrunk. Not only is it Australia’s largest transaction this year, but also the largest-ever data centre deal globally.
Robin Khuda, the CEO and sole founder of AirTrunk, called the transaction an ‘epic milestone.’
“It showcased to the world that a world-class digital infrastructure business can be built in a record time from Australia. The AirTrunk transaction demonstrated how entrepreneurs can dream big, no matter the background they are from. It’s no longer the big beating the small, but the fast beating the slow,” says Khuda.
The Bangladesh-born entrepreneur started the company in Sydney in 2015. AirTrunk opened its Singapore headquarters in 2019 and was valued at $3 billion the next year. Four years later, it is valued at 8 times that.
“AirTrunk’s success was not an overnight success. It is a culmination of many years of hard work and sacrifices,” says Khuda. “We faced rejection, near bankruptcy, near failures, even competitors attempting to discredit us (whom I’m happy to report are now reaping the benefits from our success). But we executed perfectly and consistently for our customers – some of the world’s biggest, innovative, and most demanding technology companies – here in Australia and across Asia.”
The deal was announced four months ago and has since received regulatory approval. Blackstone COO Jon Gray confirmed data centres and infrastructure are a significant priority for the investment firm.
“This is Blackstone at its best – leveraging our global platform to capitalize on our highest conviction theme. AirTrunk is another vital step as Blackstone seeks to be the leading digital infrastructure investor in the world across the ecosystem, including data centres, power and related services,” Gray stated when the announcement was made in September.
Peng Wei Tan is the Senior Managing Director of Real Estate in Blackstone’s Singapore office.
“Blackstone is the largest data centre provider in the world, and we are excited to deepen our portfolio in the region through AirTrunk,” says Wei Tan. “This is the beginning of an incredible partnership with Robin and the entire AirTrunk team.”
Khuda says he is looking forward to the next chapter of the company’s journey.
“We have changed the data centre industry, changed many people’s lives, and have created a model which now is the benchmark for data centre operators globally,” says Khuda.
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