In a post on LinkedIn, Fujitsu announced the agreement, which would see five data centres in Brisbane, Melbourne, Perth, and Sydney sold to Next Capital Private Equity.
The agreement, which is expected to reach completion by the end of this year, will see the data centres become an independent Australian national platform.
“For customers, nothing changes today. Fujitsu will continue to operate the business as usual until completion, and the transition will be managed carefully with Next Capital,” the announcement said.
“Following completion, five data centres across Sydney, Melbourne, Brisbane, and Perth will become an independent, Australian-managed national platform, with a dedicated focus on investing in and growing the business for its customers.”
The Tokyo company added that the team behind its data centre business will move with Next Capital, allowing business operations to continue smoothly,” something that was reportedly a request by Next Capital.
“This is not about replacing the existing management team. The current team will transfer with the business and will be supported by a new dedicated management team focused solely on the data centre platform, its customers and its growth,” Next Capital’s spokesperson told iTnews.
Following the sale, Fujitsu plans to invest more heavily in technology and improve its customer service.
“This transaction enables us to focus our investment on what we do best: helping customers modernise critical systems, improve cyber resilience and accelerate digital transformation,” said Peter Grassi, chief executive of Fujitsu in Oceania.
“It also allows us to invest more deeply in emerging technologies such as sovereign AI, high-performance computing and quantum computing.
“This strengthens our ability to support customers in Australia through their next phase of growth and transformation.”
While neither Next Capital nor Fujitsu has commented on the money changing hands from the deal, The Australian Financial Review has suggested that Next Capital paid just under $200 million, which is the replacement value of the portfolio.
However, this is far below the valuations seen in 2024 when sales of the data centres were first reported. Then Fujitsu was looking to auction six Australian data centres, having approached Sayers Advisory for the process. The deal at the time was expected to net between $500 million and $1 billion.
The original six-data-centre sale, which was codenamed “Project Emerald”, is believed to have included three data centres in Sydney, and one in Melbourne, Brisbane, and Perth. As all four locations are still included in the new deal, it can be concluded that one of the Sydney locations has been excluded, either in Homebush Bay, North Ryde, or Greystanes.
Fujitsu said that “Australian ownership” of the data centres is “helpful, given the customer base”, adding that data sovereignty laws were not the concern that drove it to sell.
Next Capital is keeping details of the data centres close to its chest, not confirming reports that the data centres serve roughly 80 clients, including financial services, enterprise, and government, nor has it outlined their capabilities.
“These are high-quality, enterprise-grade data centres that continue to support critical workloads. They provide a strong foundation for future growth,” Next Capital’s spokesperson said.
“As with any data centre business, technology will continue to be upgraded over time as customer requirements evolve. AI workloads will be supported where they suit the facilities and available capacity.”
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