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Home > Data Center > Blackstone makes a 150 million investment in 21Vianet

Blackstone makes a 150 million investment in 21Vianet

21Vianet Group, a carrier- and cloud-neutral Internet data center services provider in China, announced that Blackstone have agreed to make a US$150 million investment in the company.

Seda Nur Cinar by Seda Nur Cinar
June 23, 2020
in Data Center
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Blackstone, an investment firm, made a 150 million investment in 21Vianet, according to 21Vianet Group’s announcement. With this investment, Blackstone will become one of the Company’s largest institutional stockholders.

To further digital transformation

21Vianet provides hosting and related services, including IDC services, cloud services, and business VPN services. The customers of 21Vianet have the opportunity to locate their servers and equipment in 21Vianet’s data centers and connect to China’s Internet backbone. The company plans to use this investment to reinforce its position in China’s hyper-growth data center market.

Josh Chen, the Founder and Executive Chairman, 21Vianet, said,

Josh Chen, the Founder and Executive Chairman, 21Vianet
Josh Chen, the Founder and Executive Chairman, 21Vianet

“We are delighted to welcome Blackstone, one of the world’s leading investment firms, to partner with us to fuel our next phase of growth. This investment is a valuable vote of confidence in the strategy being pursued by our team. Blackstone’s experience, connections and knowledge of the data center sector globally will help us embrace new infrastructure and digital transformation opportunities to better serve our customers.”

According to the agreement, the investors will subscribe US$150 million newly issued Series A perpetual preferred shares. Moreover, 21Vianet will have the right to trigger a mandatory conversion at its election, if its ADSs achieve a specified price threshold at 200% of the conversion price for a specified period.

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Tags: 21Vianet GroupBlackstoneJosh Chen
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Seda Nur Cinar

Seda Nur Cinar

Seda Nur Cinar is the news editor of the Cloud7 News. With more than 8 years of Linux and cloud experience, Seda is a Linux and opensource enthusiast, security researcher and a web application developer.

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