Digital Realty to buy Blackstone's data center stake in deal valuing assets at $7.8 billion

Digital Realty to buy Blackstone's data center stake in deal valuing assets at $7.8 billion June 29 : Digital Realty said on Monday it would acquire a majority stake in three fully leased Northern Virginia data centers from Blackstone-managed funds in a deal valuing the assets at $7.8 billion. The acquisition strengthens Digital Realty's position in Northern Virginia, the world's largest data center market, where demand for capacity has surged as cloud computing and AI drive higher infrastructure needs. Under the deal, which is expected to close on June 30, Digital Realty will pay Blackstone-affiliated funds $3.5 billion for their blended 64 per cent equity interest. The consideration includes $1.2 billion in cash and $2.3 billion in Digital Realty shares, based on the company's last reported share price on June 29.