Digital Edge Holdings Ptd. Ltd has successfully acquired the remaining shares of PT Indointernet Tbk (Indonet), a digital infrastructure company based in Indonesia. This transaction signifies Digital Edge’s complete ownership of Indonet, building upon the majority stake it acquired in 2021 through a $165 million investment. The expansion of this investment has been financed through a combination of Digital Edge’s capital and external debt.

The strategic move further solidifies Digital Edge’s position in Indonesia’s thriving digital infrastructure market, where the domestic cloud and data center sectors are anticipated to experience a double-digit Compound Annual Growth Rate (CAGR) of 28% in the coming years. Samuel Lee, CEO of Digital Edge, expressed enthusiasm about the growth potential in Indonesia and how this additional investment in Indonet strengthens their market presence. It also allows for the enhancement of fiber and connectivity services provided to colocation customers across the platform.

Indonet, established in 1994 as Indonesia’s pioneer commercial Internet Service Provider, now becomes wholly owned by Digital Edge. The founders of Indonet, including Otto Toto Sugiri, have exited the company as part of this acquisition. Sugiri, reflecting on the journey of building Indonet, expressed confidence in Digital Edge’s ability to propel the business forward and capitalize on the substantial growth opportunities in Indonesia’s digital infrastructure market.

Currently operating one data center, Edge 1, in downtown Jakarta with a capacity of 6MW, Indonet has plans to launch a second data center, Edge 2, in 2024. Edge 2 will boast a capacity of 23MW and will be located less than 3km away from Edge 1.

Digital Edge, initiated by Stonepeak in August 2020, has been actively expanding its footprint in the Asia-Pacific region, acquiring and developing data centers in Japan, South Korea, Indonesia, and the Philippines.