The real estate investment trust and carrier-neutral data center operator Digital Realty is considering buying Brazilian data center firm Ascenty.

People with knowledge of the matter told Bloomberg that the San Francisco-based company is in talks to acquire the entire Ascenty business, while another source said it could invest alongside a joint venture partner.

Ascenty’s ascent

In April, reports valued Ascenty at roughly $1 billion, with its majority-owner Great Hill Partners believed to be looking for a sale at the time.

It is not clear how far along the deal is; in the instance of a joint venture, it could be similar to Digital Realty’s $1.8bn JV with conglomerate Mitsubishi Corporation focused on data centers in Japan.

Should a deal go ahead, it would mark yet another acquisition in an industry increasingly condolidated in the hands of the few. Digital Realty, in particular, has been aggressively buying out competitors, most notably with its $7.8 billion purchase of DuPont Fabros Technology last year.

In the latest quarterly report from Synergy Research, Digital Realty was noted as the second largest colocation provider in the world, controlling eight percent of the market (behind Equinix’s 13 percent).

Acquiring Ascenty would help it grow further, with the company already operating eight data centers across Latin America, and constructing a further six facilities.