Princeton Digital, an Asian data center management group backed by Warburg Pincus, has raised $500 million in a funding round led by Abu Dhabi's Mubadala Fund, highlighting the sector's attractiveness Which continues to grow supported by the demand of cloud service providers in the world.
Princeton Digital, which was founded in 2017 by Chairman Ranju Salgami and COO Varun Raghavan with Warburg Pincus, said in a statement Tuesday that it will strengthen its presence in Its markets are in Singapore, India, China, Japan and Indonesia, according to Reuters.
Data centers worldwide are driving an unprecedented wave of demand from major cloud service companies such as Amazon, streaming platforms and other Internet service companies, which is attracting financial investors. Asia has become an active hub for data centers.
Princeton Digital Group said Mubadala Investment Company will invest $350 million in the group, and other backers including Warburg Pincus have contributed more than $500 million in funding. /p>
Princeton Digital plans to open data centers in South Korea and the Philippines over the next two years, Rango told Reuters, adding that the market is growing at more than 20% annually, and we expect this to continue in the next two years. The coming years indicate the demand for data centers.
Rango said that within 12 to 24 months, Princeton Digital would be in a good position to consider a public offering, but it did not have specific goals.
