Macquarie Technology Group aims to raise $130M to expand data centre business
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Macquarie Technology Group aims to raise $130M to expand data centre business

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The company has entered a trading halt to raise funds to 'capitalise on cloud and AI megatrends'.

Macquarie Technology Group (ASX: MAQ) announced it is raising $130 million to expand its data centre business and has entered a trading halt after almost 20 years of self-funded growth.

The group is raising $130M to continue development of a major data centre campus in the north zone of Sydney. Macquari currently has five data centres in operation. They claim that two out of three of the world’s largest public cloud providers leverage these facilities and over 90% of revenue comes from contracted monthly recurring revenue. 

The company has maintained nine consecutive years of EBITDA growth and reaffirms its FY23 EBITDA guidance of approximately A$102-104 million. Macquarie has discounted shares by 7.6% with each new share priced at A$58.50.

On the decision David Tudehope, CEO, Macquarie Technology Group said, “This raise will strengthen our company and enable us to invest and expand our data centre business to capitalise on cloud and AI megatrends.

“As our economy becomes more digitised, organisations are moving their data and applications to the cloud at a faster pace. The cloud lives in new-generation data centres like ours supported by leading cloud services and cyber security platforms.

"AI is the next significant megatrend for data centres and the digital economy, driving higher power density and demand for greater capacity. As these two megatrends combine, we expect to see strong demand for the latest generation of data centres.”

We reported earlier this year that Macquarie Data Centres campus had launched the Console Connect network-as-a-service (NaaS) platform. The fourth point-of-presence (PoP) in Sydney.

 

 

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