Indonesia's SM+ Signs Agreement to Acquire 5 Operational Data Centers

en.Wedoany.com Reported - On October 12, PT SMPlus Digital Investama (SM+) of Indonesia signed a formal acquisition agreement with Princeton Digital Group (PDG) to acquire PDG's enterprise data center business in Indonesia. The transaction involves 5 data centers already in operation, located in Greater Jakarta, Bandung, Surabaya, and Pekanbaru. Upon completion of the transaction, SM+ is expected to operate 31 data center facilities across 25 cities or markets in Indonesia.

The assets to be acquired belong to the enterprise data center business, and the transaction targets existing operational facilities and their corresponding operations. PDG acquired these data centers when it entered the Indonesian market in 2019, and has since invested in and upgraded the related facilities. This agreement covers its original enterprise data center asset portfolio and does not include the large-scale data center campuses PDG is developing in Indonesia.

SM+ is a digital infrastructure and services investment platform backed by Sinar Mas. According to the transaction arrangements announced by both parties, SM+ will expand its data center operating network across multiple cities through this acquisition. The 5 existing facilities will be incorporated into its infrastructure platform upon completion of the transaction; ownership of the related assets has not yet been transferred.

PDG will continue to retain its large-scale data center business in Indonesia, with related projects totaling approximately 400MW in planned scale, including three campuses: JC2, JC3, and JC4. Among them, JC2 has an existing data center capacity of approximately 22MW, the JC3 project under development has a planned capacity of 120MW, and JC4 has a planned capacity of 240MW. This asset sale does not include the above-mentioned large-scale facilities and development projects.

UBS AG Singapore Branch acted as sole financial advisor for SM+'s acquisition. The two parties have signed a binding formal agreement, but the transaction remains subject to customary closing conditions. PDG will continue to develop large-scale data centers in Indonesia and retain its infrastructure projects serving large cloud computing and artificial intelligence customers.