Brisbane-based iseek has expanded its reach into South Australia with the acquisition of data centre operator YourDC.
This adds two facilities located on either side of Adelaide to the data centre, cloud and connectivity provider’s portfolio, bringing its total count to seven across Queensland, NSW and South Australia.
While an exact figure has not been disclosed, ARN understands the purchase amount is between $50 million and $100 million.
YourDC’s data centres offer co-location and connectivity services to government, defence and enterprise customers.
The Adelaide-based company’s management team, including co-founder and CEO Scott Hicks, and staff will continue to operate the business post-acquisition.
Jason Gomersall, iseek founder and CEO, said the acquisition is “game-changing” for the company’s growth trajectory.
“It provides us a large footprint in South Australia, strengthens our national offering and increases our exposure within the defence and education sectors,” he said.
“The complementary businesses are market leaders in their respective states with proven track records of delivering secure and reliable critical infrastructure to large-scale government and enterprise customers.”
He also added the acquisition would allow YourDC to utilise iseek’s own platform to cross-sell additional digital infrastructure solutions to its customers.
It will also allow YourDC to expand its own business efforts, Hicks said.
“Our acquisition by iseek will facilitate our next growth phase, expanding our data centre capacity to capitalise on significant market demand and growth opportunities. As founder-led businesses, YourDC and iseek have multiple synergies with the acquisition enabling us to offer additional digital and co-location services,” he added.
Iseek’s acquisition efforts come weeks after it won a five-year data centre-as-a-service contract with the Queensland government following a competitive tender earlier in September.
It also comes more than a year after British-based infrastructure asset management firm Amber Infrastructure bought a majority stake in the provider back in July 2021.