Brookfield Asset Management Inc. is reportedly considering a takeover of data center operator Switch Inc.
Bloomberg reports the asset manager is among potential buyers circling Las Vegas-based Switch as it weighs a sale, citing ‘people familiar with the matter.’
The publication notes no final decision has been made and Brookfield could opt against pursuing a deal.
Reports surfaced in March that the US colocation firm was exploring a potential sale.
The company also has an Edge business, teaming up with Dell to build Edge data centers at FedEx locations across the US.
Switch first went public in 2017, at a valuation of $4.2 billion. Based on its current market cap, Switch Inc. is valued at around $7.5 billion.
Brookfield has a significant existing portfolio of more than 50 data centers, and owns or has stakes in Ascenty, DCI Data Centers, BAM Digital Realty, and Evoque.
The company has previously been reported as interested in CyrusOne prior to it being acquired by KKR & GIP, as well as Global Switch.
If a deal does happen, it would follow a number of large data center acquisitions in 2021. QTS, CoreSite, and CyrusOne have all been acquired – by Blackstone, American Tower, and KKR/GIP respectively – for a combined $36 billion.
Update: DigitalBridge and IFM have acquired Switch Inc. for around $11 billion.