Digital Bridge Holdings and Colony NorthStar have joined forces to buy a Finnish broadcast network from First State Investments.
First State European Diversified Infrastructure Fund FCP - SIF (EDIF I) has agreed to sell Digita to Digital Colony, a joint venture between the digital infrastructure firm and US real estate investor Colony, for an undisclosed sum.
Founded in 1999 as a spin-off from national broadcaster Yle, Digita is Finland’s TV and radio broadcasting network.
Digita owns the sole nationwide digital terrestrial television and radio broadcasting tower infrastructure network in Finland.
The company is also Finland’s largest independent tower network owner.
Digita will continue to be led by CEO Juha-Pekka Weckström and the existing management team.
Ben Jenkins, a managing partner at Digital Colony, said: “Digita is well positioned to extend its business model into adjacent markets as the deployment of 5G will increase demand for new macro towers, rooftop sites, small cell deployments, and data centres.
“We look forward to partnering with Digita’s highly experienced team to ensure that the company’s processes and systems remain best in class to provide customers state-of-the-art solutions across the entire value chain.”
The transaction, which is subject to regulatory approvals, is expected to close in the second quarter of the year.