DigitalBridge Group Inc. has announced the successful conclusion of its tender offer for the common shares and stock acquisition rights of JTOWER Inc. The process, which began on August 15, 2024, and wrapped up on October 10, 2024, was facilitated through DB Pyramid Holdings, LLC, a special-purpose entity created by funds under the management of DigitalBridge's investment platform.
Through this transaction, DigitalBridge has secured a 75.62% controlling stake in JTOWER, amounting to JPY 70.1 billion. This acquisition marks a pivotal advancement in DigitalBridge's strategic penetration into Japan's digital infrastructure space. Future plans involve taking JTOWER private, thereby making DB Pyramid Holdings and Cultive—an asset management firm managed by JTOWER's Representative Director Atsushi Tanaka—the exclusive shareholders.
Justin Chang, Senior Managing Director and Head of Asia at DigitalBridge, expressed enthusiasm, stating, "We are thrilled to deepen our investment in JTOWER, an esteemed leader within Japan's digital infrastructure domain. This move reflects our belief in JTOWER’s significant long-term prospects and its vital contribution to the evolution of next-generation digital networks. We eagerly anticipate working alongside the JTOWER team to foster their growth, broaden their reach, and enhance connectivity across Japan, all while meeting the strategic and operational demands of our customers."
