- SoftBank agreed to buy DigitalBridge in an all-cash deal valued at about US$4.0 billion, paying US$16 per share.
- The offer implies a 15% premium to the December 26, 2025 close and about a 50% premium to the prior 52-week average.
- DigitalBridge will remain a separately managed platform led by CEO Marc Ganzi, focused on digital infrastructure like data centers, fiber, towers, and edge.
- SoftBank frames the deal as an AI-infrastructure play and expects to close in the second half of 2026 pending regulatory and other approvals.
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The acquisition of DigitalBridge by SoftBank aligns closely with SoftBank’s broader strategy to dominate the infrastructure underpinning artificial intelligence. By purchasing a leading alternative asset manager fully focused on digital infrastructure, SoftBank not only gains control over critical assets—including data centers, fiber networks, towers, and edge platforms—but also secures a direct role in financing, operating, and scaling infrastructure essential for AI deployments globally. This ‘picks and shovels’ approach reflects recognition that compute is only part of the AI value chain; connectivity, power, and edge assets are increasingly the strategic chokepoints.
From a deal-structure perspective, the all-cash merger at US$16 per share provides DigitalBridge shareholders with a meaningful exit premium—15 percent over immediate market prices and 50 percent over longer-term averages. This level of premium suggests SoftBank perceives near-term value in the assets and confidence in its ability to deploy capital effectively across a portfolio where scale and speed matter.
Maintaining DigitalBridge as a separately managed platform under Marc Ganzi signals SoftBank wishes to preserve DigitalBridge’s investment culture, client relationships (including LPs), and its global operating model. This helps mitigate integration risk—especially given regulatory sensitivity around cross-border infrastructure and antitrust.
However, significant risks persist: regulatory approvals are required in multiple jurisdictions; valuation stress could emerge if AI infrastructure demand or power/cooling constraints falter; capital intensity remains high; and SoftBank must manage costs amid potentially elevated interest rates and macroeconomic uncertainty. Moreover, ensuring DigitalBridge’s existing LP/fund structures align with new SoftBank ownership will be essential.
Strategically, the deal enhances SoftBank’s ASI (Artificial Super Intelligence) thesis by strengthening its capacity to deploy infrastructure from edge to core at global scale. It also provides a hedge against AI infrastructure bottlenecks and establishes SoftBank as not just an investor but an operator in mission-critical backbone assets. For DigitalBridge, the partnership can provide more stable, long-term capital allowing it to pursue more ambitious, capital-intensive projects without the pressure of public markets.
Supporting Notes
- SoftBank will acquire all outstanding DigitalBridge common shares for US$16.00 per share in cash.
- The transaction values DigitalBridge at approximately US$4.0 billion enterprise value.
- The US$16 offer equates to ~15 percent premium over the December 26, 2025 closing price and ~50 percent premium over the unaffected 52-week average as of December 4, 2025.
- DigitalBridge manages about US$108 billion in infrastructure assets, including data centers, cell towers, fiber, small cells, and edge infrastructure.
- The transaction has unanimous approval from DigitalBridge’s Board and a special committee of independent directors.
- Post-deal, DigitalBridge will continue operating as a separately managed platform under current CEO Marc Ganzi.
- Deal expected to close in second half of 2026, subject to customary closing conditions, including regulatory approvals.
- SoftBank’s justification emphasizes securing critical AI infrastructure capacity and strengthening connectivity layers for deployment.