(Bloomberg) -- DigitalBridge Group Inc. is offering a whopping 152% premium for Jtower Inc. in a deal that values the Tokyo-based telecom infrastructure-sharing company at around ¥93 billion ($630 million).
Jtower’s founder and president, Atsushi Tanaka, as well as Nippon Telegraph & Telephone Corp. and its mobile unit will tender their combined stake of roughly 26% to the take-private deal at ¥3,600 per share, according to an exchange filing. The offer runs from Thursday to Oct. 10.
Since launching in 2012, Jtower has entered capital and business tie-ups with Japan’s major carriers, which are looking to consolidate their tower networks and cut costs amid a rapidly shrinking population. The company listed on the Tokyo Stock Exchange’s startups section in 2019.
Boca Raton, Florida-based DigitalBridge is an investment firm specializing in assets such as data centers and cell towers. In 2022, the company and Brookfield Asset Management Inc. bought a majority stake in Deutsche Telekom AG’s tower business.
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