Next Capital nabs Fujitsu's data centre platform

Australian private equity firm Next Capital is set to acquire the local data centre business of Fujitsu to create a new independent national data centre platform.

With a completion date expected later this year, subject to customary conditions and approvals, Next Capital will pocket five enterprise-grade data centres across Sydney, Melbourne, Brisbane and Perth, currently serving more than 80 hyperscale, enterprise, government and financial services customers.

Fujitsu will continue to operate the business as usual through to completion, with the transition managed jointly by Fujitsu and Next Capital over the coming months, with some 58 data centre team members transitioning to the independent platform.

Next Capital said a new name and identity will be introduced for the platform in due course, as the deal follows the divestment of iseek, a leasehold data centre business, which has grown its portfolio from three to five data centres during Next Capital's ownership before being sold to Amber Infrastructure in 2021.

Commenting, Next Capital partner and chair James Murphy praised the business for its excellent track record and is excited to bring it forward.

"We are bringing a highly capable commercial leadership team to complement an already strong operations group, creating a platform with the right expertise to support customers and drive its next phase of growth," Murphy said.

"Our priorities are a seamless transition for customers, support for our people, and investment in the platform for the long term."

Meanwhile, Fujitsu chief executive in Oceania Peter Grassi said the transaction reflects the success story through its investments.

"This transaction enables us to focus our investment on what we do best: helping customers modernise critical systems, improve cyber resilience and accelerate digital transformation," he said.

"It also allows us to invest more deeply in emerging technologies such as sovereign AI, high-performance computing and quantum computing. This strengthens our ability to support customers in Australia through their next phase of growth and transformation."

The business will be debt-free after completion, backed by institutional capital, with significant capital available to fund growth, while Fujitsu will remain as a customer, Next Capital said.