Global Engine Group Holding Limited Acquires 22,5% Stake in Corpotech Holdings Limited, a Hong Kong Data Centre Operator
/EIN News/ — Hong Kong, Dec. 30, 2024 (GLOBE NEWSWIRE) — Global Engine Group Holding Limited (the “Company” or “GLE”), a Hong Kong-headquartered integrated solutions provider in information communication technologies (“ICT”), today announced that the Company, through its wholly owned subsidiary Global Engine Holdings Limited, has completed the acquisition of a 22.5% stake in Corpotech Holdings Limited, which, through its wholly owned subsidiary Corpotech Limited, owns a 9,627 sq.ft data center in Tsing Yi, Hong Kong, for a total consideration of $2.25 million. The Company believes this strategic investment positions GLE to capitalize on the burgeoning data managed services sector in Hong Kong.
Andrew Lee, CEO, Chairman and Director of the Company commented:
The market is anticipated to generate colocation revenue of $732.5 million in 2024, with projections reaching $1.37 billion by 2029, reflecting a compound annual growth rate (CAGR) of 13.36% during this period.
“This investment in the Tsing Yi data center strategically positions GLE to leverage these promising opportunities and drive innovation within the sector.”
This acquisition not only strengthens our foothold in the rapidly expanding data center market in Hong Kong but also enhances our capacity to deliver comprehensive data managed services to our clients.
“The growing ties between Hong Kong and mainland cities in the Guangdong-Hong Kong-Macao Greater Bay Area are driving significant demand for secure data center services. This presents exceptional growth opportunities for Hong Kong’s data center operators, especially in cloud computing, e-commerce, IoT, and logistics. Moreover, the mainland’s push for internationalization in the information sector further boosts this demand.”
According to a research report by Mordor Intelligence, the Hong Kong data center market is poised for significant growth, with total market capacity projected to increase from 0.95 thousand MW in 2024 to 1.78 thousand MW by 2029. GLE is excited to be a market player during this transformation.
READ the latest news shaping the data centre market at Data Centre Central
Global Engine Group Holding Limited Acquires 22,5% Stake in Corpotech Holdings Limited, a Hong Kong Data Centre Operator, source
