SK Holdings pays $300m for 8.9% in data center operator Chindata Group

South Korea’s SK Holdings has reportedly paid US$300 million for an 8.9% share in the world’s first hyperscale data center operator Chindata Group.

The deal valued the data center provider, which was acquired by Bain Capital in 2019, at US$3.1 billion.

SK Holdings, the parent company of SK Group, owns six data centers in South Korea, while Chindata Group has multiple interconnected large-scale campuses serving global clients in China.

After merging with Bridge Data Centres last year, Chindata Group is also expanding into Malaysia with two hyperscale data centers in Cyberjaya and a new facility in the financial and telecom hub of Mumbai, India.

Chindata Group’s vision is to power its next-generation hyperscale data centers using 100% renewable energy.

“We diligently develop our hyperscale data centers at strategic locations where energy, connectivity and clients’ business demands intersect. In this way, we could help customers realize their business strategy together with the long-term goal of ‘go green’,” said Alex Ju, the Founder and CEO of Chindata Group.

Chindata Group was ranked in first place by Greenpeace in their Clean Cloud 2020 report and achieved the Hyperscale Innovation award at the DataCloud Awards 2019.

“We are dedicated to providing more cost-effective and resilient data center services for human development, and empowering emerging countries,” added Mr. Ju.

The acquisition between SK Holdings and Chindata Group is expected to close the third quarter of 2020.

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