DigitalBridge to Take JTOWER Private, Acquires Majority Stake

By: DigitalBridge Group, Inc. via Business Wire

October 21, 2024 at 08:30 AM EDT

DigitalBridge Group, Inc. (NYSE: DBRG) (“DigitalBridge”), a leading global digital infrastructure investment firm, announced today the successful completion of a tender offer for the common shares and the stock acquisition rights of JTOWER Inc. (“JTOWER”; TSE: 4485), an industry leader in the rapidly expanding Japanese digital infrastructure market. The tender offer, which commenced on August 15, 2024 and concluded on October 10, 2024, was conducted through DB Pyramid Holdings, LLC (the “Offeror”), a special purpose entity owned by funds managed by DigitalBridge’s investment management platform. The Offeror has acquired a 75.62% controlling interest in JTOWER for JPY 70.1 billion, marking a significant milestone in DigitalBridge's expansion into the Japanese digital infrastructure market. DigitalBridge plans to take JTOWER private, which will make the Offeror and Cultive, an asset management company of JTOWER’s Representative Director Atsushi Tanaka, the sole shareholders of JTOWER. The delisting of JTOWER is expected to be completed in Q1 2025.

Justin Chang, Senior Managing Director and Head of Asia at DigitalBridge, said: “We are excited to solidify our investment in JTOWER, a leading player in Japan’s digital infrastructure sector. This strategic investment underscores our confidence in JTOWER’s long-term potential and its critical role in advancing next-generation digital networks. We look forward to collaborating with the JTOWER team to accelerate their growth, expand their presence, and drive enhanced connectivity throughout Japan, while continuing to serve the strategic and operational needs of customers."

Atsushi Tanaka, Representative Director of JTOWER, said: “We are excited to enter the next phase of JTOWER’s growth in partnership with DigitalBridge, a global leader in digital infrastructure investment. With their strategic expertise and financial backing, JTOWER is well-positioned to further enhance capital efficiency for its customers and drive the advancement of infrastructure sharing in Japan.”

This acquisition strengthens DigitalBridge’s global portfolio of digital infrastructure assets and reinforces its commitment to driving growth and innovation in key markets. By leveraging DigitalBridge’s global expertise and resources, JTOWER is well-positioned to expand its leadership and meet the growing demand for digital infrastructure in Japan.

About DigitalBridge

DigitalBridge (NYSE: DBRG) is a leading global alternative asset manager dedicated to investing in digital infrastructure. With a heritage of over 25 years investing in and operating businesses across the digital ecosystem, including cell towers, data centers, fiber, small cells, and edge infrastructure, the DigitalBridge team manages over $84 billion in digital infrastructure assets on behalf of its limited partners and shareholders. For more information, visit: www.digitalbridge.com.

About JTOWER

JTOWER (TSE: 4485) is a leading provider of shared telecommunications infrastructure, specializing in the development and management of telecommunication towers and in-building solutions (IBS) across Japan. With a mission to enhance mobile network connectivity and efficiency, JTOWER supports mobile network operators (MNOs) through its advanced, cost-effective tower sharing and IBS solutions. By leveraging its expertise in telecommunications and strategic partnerships, JTOWER plays a critical role in driving the growth of Japan's shared telecommunications infrastructure, while promoting sustainable and scalable mobile network expansion.