British-based infrastructure asset management firm Amber Infrastructure has bought a majority stake in Brisbane-headquartered IT firm Iseek.
Established in 1998, Iseek is a cloud, data centre and connectivity provider with three data centres in Brisbane, plus one in Sydney and one in Townsville.
The company declined to reveal the terms of the deal, including the stake size, but said its current CEO Jason Gomersall would retain his post.
According to the AFR, the value of the stake could amount to as much as $110 million.
“It’s a fantastic endorsement of what we’ve built over the past 22 years servicing a national customer base and we’re very proud Amber has chosen to invest in us as their digital infrastructure platform of choice in this market,” Gomersall said.
“The depth of Amber’s global expertise in infrastructure and track record as a long-term manager and developer of infrastructure assets internationally makes them an ideal partner for Iseek as we pursue our next phase of growth.”
Meanwhile, the deal marks Amber’s first digital infrastructure investment in Australia, although its portfolio does span areas such as Gold Coast Light Rail and the Royal Children’s Hospital in Melbourne.
“Iseek presents an excellent investment opportunity to support a high quality, ... local platform to grow its digital infrastructure service offering in markets underpinned by strong demand dynamics, which have been further amplified through the COVID-19 pandemic,” Amber’s head of Asia Pacific Vaughan Wallace added.
The announcement comes almost a year after Iseek became the first to deliver the Australian Signals Directorate’s (ASD) certified Protected Cloud Services in Queensland.
In 2019, it also joined the Queensland Government ICT Supplier Panel for data centre-as-a-service (DCaaS).