HMC Capital Surges on New Data Centre Acquisition for DigiCo Platform

HMC Capital Ltd (ASX: HMC) saw its shares rise today after unveiling a strategic acquisition in the data infrastructure sector. The fund manager, known for repurposing Masters properties, acquired iseek—a co-location data centre provider with seven facilities across Australia and a customer base of over 500. The $400 million deal, comprising an upfront AU$150 million payment and AU$250 million in scrip for HMC’s DigiCo REIT IPO, aligns with HMC’s ambitions to grow its new Global Digital Infrastructure Platform. This addition, along with its Global Switch Australia acquisition, brings HMC's data centre assets to 13 properties, on par with NextDC’s reach. With data demand projected to grow significantly due to AI, HMC Capital aims to capture this trend, targeting a 4% distribution yield from DigiCo REIT once launched on the ASX.

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